P2-30A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance.

P2-30A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance Learning Objectives 3,4 4 Toal Debits $50.050 Doris Sewart sarted her practice as a design consulant on September 1, 2015. During the first month of operations, the business completed the following transactions Sep. 1 Received $42,000 cash and gave capital to Stewart 4 Purchased office supplies, $700, and furniture, $1,900, on account 6 Performed services for a law firm and received $1,400 cash. 7 Paid $24,000 cash to acquire land to be used in operations 10 Performed services for a hotel and received its promise to pay the $1,000 within one week. 14 Paid for the furniture purchased on September 4 on account. 15 Paid assistant's semimonthly salary,$1,490 17 Received cash on account, $400 20 Prepared a design for a school on account, $700 25 Received $1,800 cash for design services to be performed in October. 28 Received $2,100 cash for consulting with Plummer&Gordon. Paid $1,200 cash for a 12-month insurance policy starting on October 1 29 30 Paid assistant's semimonthly salary. $1,490 30 Paid monthl rent expense, 5650 0 Received a bill for utbilities, $350. The bill will be paid next month 30 Stewart withdrew cash of $3,000 Requirements 1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable Office Supplies; Prepaid Insurance; Furniture; Land; Accounts Payable; Utilities Payable Unearned Revenue; Stewart, Capital; Stewart, Withdrawals; Service Revenue; Salaries Expense Rent Expense: Utilities Expense. Explanations are not required. 2. Open a T-account for each of the accounts. 3. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal 4. Prepare the trial balance of Doris Stewart, Designer, as of September 30, 2015. P2-30A Requirement 1 Posting Ref. Debit Credit Date Accounts and Explanation Sep. 1 10 14 17 30 30 P2-30A, cont. 30 30 Requirements 2 and 3 Cash Accounts Payable Bal Uiis avable Bal Bal. Accounts Receivable Unearned Revenue Bal Bal Office Supplies Stewart, Capital Bal Bal Prepaid Insurance Stewart, Withdrawals Bal Bal Furniture Service Revenue Bal Land Bal. Bal. Salaries Expense Bal Rent Expense Bal Utilities Expense Bal Requirement 4 DORIS STEWART, DESIGNER Trial Balance September 30, 2015 Account Title Balance Debit Credit Cash Accounts Receivable Office Supplies Prepaid Insurance Furniture Land Accounts Payable Utilities Payable Unearned Revenue Stewart, Capital Stewart, Withdrawals Service Revenue Salaries Expense Rent Expense Utilities Expense Total