Question
Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance Vince Perez opened a law office on April 1, 2015. During the
Journalizing transactions, posting journal entries to four-column accounts,
and preparing a trial balance
Vince Perez opened a law office on April 1, 2015. During the first month of operations, the
business completed the following transactions:
Apr 1
Perez contributed $62,000 cash to the business, Vince Perez, Attorney. The business
issued common stock to Perez.
3
Purchased office supplies, $500, and furniture, $2,000, on account.
4
Performed legal services for a client and received $1,900 cash.
7
Purchased a building, $120,000 and land, $30,000. The business paid $50,000 cash
and signed a note payable to the bank for the remaining amount.
11
Prepared legal documents for a client on account, $1,100.
15
Paid assistants semimonthly salary, $920.
16
Paid for the office supplies purchased on April 3 on account.
18
Received $1,700 cash for helping a client sell real estate.
19
Defended a client in court and billed the client for $700.
25
Received a bill for utilities, $300. The bill will be paid next month.
28
Received cash on account, $800.
29
Paid $1,200 cash for a 12-month insurance policy starting on May 1.
29
Paid assistants semimonthly salary, $920.
30
Paid monthly rent expense, $730.
30
Paid cash dividends of $2,700
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