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Need help to check its right. 1) Create the appropriate trust bank journal entries to record the transactions shown above. (9 Marks) 2) Create a
Need help to check its right.
1) Create the appropriate trust bank journal entries to record the transactions shown above. (9 Marks)
2) Create a client trust ledger for client 1, Dan Edwards. (3 Marks)
3) Create a client trust ledger for client 2, Gwen Wallace. (6 Marks
Date Client/Description Nov 1 Nov 3 Pauline received $1,000 cash from Dan Edwards (client 1) as a retainer on a POA appeal matter Pauline received a retainer of $1,000 from new client Gwen Wallace (client 2) as a retainer on a personal injury matter. Gwen paid half by credit card and half by cash Nov 15 Pauline paid $150 to the Minister of Finance for filing fees with respect to Gwen Wallace's matter (chg. 1) Pauline paid $200 to Fast Reporting Inc. for transcripts with respect to Dan Edwards matter (cha 2) Nov 6 Wov 115 Pauline received a cheque in the amount of $2,500 from Robert Bianchi as a settlement to Gwen Wallace's matter. Pauline deposited the cheque to the trust account then wrote cheque to Gwen Wallace for the same amount (chq 3)Step by Step Solution
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