Question
Preparing and posting General Journal entries; preparing a trial balance. WiCom Servicing completed these transactions during November 2014, its first month of operations: Tait Unger,
Preparing and posting General Journal entries; preparing a trial balance. WiCom Servicing completed these transactions during November 2014, its first month of operations: Tait Unger, the owner, invested $62,000 cash and office equipment that had a fair value of $19,000 in the business. Prepaid $21,000 cash for three months rent for an office. Made credit purchases of used office equipment for $9,000 and office supplies for $1,650. Completed work for a client and immediately received $5,200 cash. Completed a $4,800 project for a client, who will pay within 30 days. Paid the account payable created on November 4. Paid $3,750 cash as the annual premium on an insurance policy. Received $2,000 as partial payment for the work completed on November 12. Completed work for another client for $3,600 on credit. Unger withdrew $5,300 from the business for personal use. Purchased $1,700 of additional office supplies on credit. Paid $19,000 in wages. Paid $1,650 for the months utility bill. I need to do a trial balance with all of this please help I'm so confused
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started