Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please need correct answer for all 3 requirements i really appreciate it i will upvote it thank you so much Problem 2 The trial balance

please need correct answer for all 3 requirements i really appreciate it i will upvote it thank you so much
image text in transcribed
image text in transcribed
Problem 2 The trial balance of Harper Service Center on March 1, 2019, lists the entity's assets, liabilities, and equity on that date: Account title debit balance credit S26,000 4.500- Cash Accounts receivable Accounts payable Harper, capitale Total $2.000 28.500 $30.500 $30.500 During March, the business engaged in the following transactions: a. Borrowed $50,000 from the bank and signed a note payable in the name of the business. b. Paid cash of $30,000 to acquire land. c. Performed service for a customer and received cash of $6,500. d. Purchased supplies on account, $600. e. Performed customer service and earned revenue on account, $5,500. f. Paid $1,100 on account. g. Paid the following cash expenses: salaries, $2,000; rent, $1,200; and interest, $500. h. Received $3,000 on account. i. Received a $660 utility bill that will be paid next week. j. The owner invest cash of $2,300 to the company Requirements (1) Journalize each transaction. Key journal entries by transaction letter (10 marks) (2) Post to the ledger (13marks) (3) Prepare the trial balance of Harper Service Center at March 31, 2019. (5marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting for Non-Accounting Students

Authors: John R. Dyson

8th Edition

273722972, 978-0273722977

More Books

Students also viewed these Accounting questions

Question

What are their resources?

Answered: 1 week ago

Question

What impediments deal with customers?

Answered: 1 week ago