Question
Mary Berg, a young lawyer, began her own practice and completed these transactions during September of the current year: 1. 9/2 Sold a personal investment
Mary Berg, a young lawyer, began her own practice and completed these transactions during
September of the current year:
1.
9/2 Sold a personal investment in Xerox stock for $2,845 and invested $2,500 of the proceeds in
the law practice.
2.
9/2 Rented the furnished office of a lawyer who was retiring, and paid three months' rent in
advance $1,050.
3.
9/2 Purchased the law library of the retiring lawyer for $1,750, paying $750 in cash and agreeing
to pay the balance in one year.
4.
9/5 Purchased office supplies for cash, $75.
5.
9/6 Purchased law books from West Publishing company on credit, $250.
6.
9/8 Completed legal work for Security Bank on credit, $700.
7.
9/15 Paid for the law books purchased on credit on September 6.
8.
9/19 Completed legal work for Coast Realty on credit, $600.
9.
9/25 Received $700 from Security Bank for the work completed on September
15.
10.
9/30 Paid office secretary's salary, $800.
11.
9/30 Paid the monthly telephone bill, $25.
12.
9/30 Recognized that one month's rent on the office had expired and become an expense.
13.
9/30 Took an inventory of unused office supplies and determined that $20 of supplies had been
used thus expensible.
what would T accounts, Trial Balance for September 30, Balance Sheet for the month ending September, Income Statement for the month of September look like?
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