I have done my assignment but the system said I'm not 100% correct. Please check it for me. Thank you
Posting Journal Entries and preparing Trial Balance Dyna Corp., a legal firm, completed the following transactions during the month of January, its first month of operations. 1. Jan. 1 Issued 28,000 shares of common stock for $140,000 cash. 2. Jan. 3 Purchased $168,000 of office equipment by paying $14,000 cash and by signing a one-year, 10% interest-bearing note payable for the remaining balance. 3. Jan. 3 Purchased $8,400 supplies on account. Hint: Debit supplies. 4. Jan. 4 Performed $11,200 of legal services on account. 5. Jan. 6 Received a $4,200 cash deposit from a new client for legal work to commence next month, 6. Jan. 10 Paid $14,000 cash for a 12-month insurance policy, 7. Jan. 13 Paid cash to settle the account for supplies purchased on January 3. 8. Jan. 20 Performed legal services for $14,000 cash. 9. Jan. 30 Collected $5,600 cash from customer on account for legal services performed on January 4. 10. Jan. 31 Paid $8,400 cash in salaries for the month of January 11. Jan. 31 Paid $2,800 cash dividends to shareholders. 12. Jan. 31 Paid $14,000 cash for January rent. Using the information above, complete the following requirements, a. Post the journal entries 1 through 12 to T-accounts (serving as a ledger), and determine the ending balance in each T-account. Note: Enter amounts in the order that they are presented above (1 through 12), using the first answer field on the appropriate side of the Taccount. Not all answer fields will be used. Do not enter dates. Using the information above, complete the following requirements. a. Post the journal entries 1 through 12 to T-accounts (serving as a ledger), and determine the ending balance in each T-account. Note: Enter amounts in the order that they are presented above (1 through 12), using the first answer field on the appropriate side of the T-account. Not all answer fields will be used. Do not enter dates. Prepaid Insurance 14.000 0 0 0 Cash 140,000 4,200 14,000 5,600 0 Service Revenue 0 11,200 0 14,000 Note Payable 154,000 0 0 154,000 14.000 0 0 25,200 14,000 14,000 8,400 2,800 14,000 0 Common Stock Office Equipment 158.000 Salaries Expense 8,400 0 140,000 0 0 0 163,800 0 0 61,600 0 168,000 0 140,000 8,400 0 Dividends 2,800 0 Accounts Receivable 11,200 5,600 0 0 11,200 5,600 Accounts Payable 8.400 8,400 0 0 0 8.400 8,400 Rent Expense 14,000 0 14,000 0 0 0 2,800 0 0 Supplies 8,400 0 8,400 0 0 Deferred Revenue 0 4,200 0 0 0 0 4,200 b. Prepare an unadjusted trial balance from the ledger in part a. Note: Do not use negative signs with your answers. Credit 61,600 5,600 0 Dyna Corp. Unadjusted Trial Balance January 31, 2020 Description Debit Cash $ 163,800 $ Accounts Receivable 11,200 Supplies 8,400 Prepaid insurance 14,000 Office equipment 168,000 Accounts Payable 8,400 Deferred revenue 0 Note payable 0 Common stock 0 Dividends 2,800 0 0 8,400 4,200 154,000 140,000 0 Service revenue 0 25,200 0 Salaries expense Rent expense Totals 8,400 14,000 399,000 $ 0 $ 399,000
