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Please help me solve this. Step by step please this is the full question E2-12B 2-12B. Transaction Analysis and the Trial Balance Make T-accounts for
Please help me solve this. Step by step please
this is the full question E2-12B
2-12B. Transaction Analysis and the Trial Balance Make T-accounts for the following accounts that LO5, appear in the general ledger of Matthew Thomas, an attorney: Cash; Accounts Receivable; Office Equipment; Legal Database Subscription; Accounts Payable; Common Stock; Dividends; Legal Fees Earned; Salaries Expense; Rent Expense; and Utilities Expense. Using the accounting equation, re- cord each of the transactions in columnar format. Prepare journal entries and record the following October transactions in the T-accounts and key all entries with the number identifying the transaction. Determine the balance in each account and prepare a trial balance as of October 31. Oct. 1 Thomas started his law practice by contributing $17,500 cash to the business on October 1; he received common stock for his investment. 2 Purchased office equipment on account, $14,000. 3 Paid office rent for October, $700. 4 Paid $11,600 to access online legal database for two years. 5 Billed clients for services rendered, $11,300. 6 Made $6,000 payment on account for the equipment purchased on October 2. 7 Paid legal assistant's salary, $3, 100. 8 Collected $9,400 from clients previously billed for services. 9 Received invoice for October utilities, $180; it will be paid in November. 10 The firm paid stockholders $1,500 cash as a dividend. ing accounts that appear in L
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