Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I'm not good with accounting. Other math and stats I get, accounting just gives me trouble. Help! Solution Oct 7, 2008 Requirements 1. Record each
I'm not good with accounting. Other math and stats I get, accounting just gives me trouble. Help!
Solution Oct 7, 2008 Requirements 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. 2. Post the transactions to T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account "Bal." 3. Prepare the trial balance of Donna White, Designer, at January 31, 2012. Requirement 1 Journey Entry Accounts Date Debit Credit Requirement 2 (you may not use all account lines) Post the transactions to the T-accounts and enter the account balance on the last line of each account. Cash Accounts Payable Bal. Donna White, Capital Bal. Accounts receivable Bal. Bal. - - DonnaWhite, Withdrawal Supplies Bal. Bal. - Service revenue Furniture Bal. - Bal. Land Bal. - 0 Salary expense Bal. Rent expense Bal. Bal. - Requirement 3 Prepare the trial balance of Donna White, Designer, at January 31, 2012. BU121 Donna White, Designer Trial Balance January 31, 2012 Account Debit Total $- Credit $- Student Solution Oct 7, 2008 Requirements 1. Record each transaction in the journal, using the account titles given. Key each transaction by date. Explanations are not required. 2. Post the transactions to T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account "Bal." 3. Prepare the trial balance of Vince Smith, Attorney at March 31, 2012. Requirement 1 Journey Entry Accounts Date Debit Credit March Requirement 2 (you may not use all account lines) Post the transactions to the T-accounts and enter the account balance on the last line of each account. Cash Accounts Payable Bal. Vince Smith, Capital Bal. Accounts receivable Bal. Bal. - - Vince Smith, Withdrawals Supplies Bal. Bal. - Service revenue Furniture Bal. - Bal. Land Bal. 26,000 0 Salary expense Bal. Rent expense Bal. Bal. - Requirement 3 Prepare the trial balance of Vince Smith, Attorney, at March 31, 2012. BU122 Vince Smith, Attorney Trial Balance 31-Mar-12 Account Debit Total $- Credit $- StudentStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started