Sophie Vaillancourt started an investment management business, Vaillancourt Management, on June 1, 2023. During the first month

Question:

Sophie Vaillancourt started an investment management business, Vaillancourt Management, on June 1, 2023. During the first month of operations, the business completed the following selected transactions:image



Required


1. Record each transaction in the journal.


2. Open the following three-column ledger accounts: Cash, #1100; Accounts Receivable,  #1300; Office Supplies, #1400; Office Furniture, #1500; Building, #1700;  Land, #1800; Accounts Payable, #2100; Sophie Vaillancourt, Capital, #3100; Sophie  Vaillancourt, Withdrawals, #3200; Service Revenue, #4100; Advertising Expense,  #5100; Equipment Rental Expense, #5300; Salaries Expense, #5500; Utilities  Expense, #5700.


3. Post to the accounts and keep a running balance for each account.


4. Prepare the unadjusted trial balance of Vaillancourt Management at June 30, 2023.

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Related Book For  book-img-for-question

Horngrens Accounting Volume 1

ISBN: 9780136889373

12th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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