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Problem 1 Problem 2 - 4 A Preparing and posting journal entries; preparing a trial balance C 3 A 1 P 1 P 2 Business
Problem
Problem A
Preparing and posting journal entries; preparing a trial balance
C A P P
Business transactions completed by Nabil Aziz during the month of September are as follows.
a Aziz invested $ cash along with office equipment valued at $ in a new sole proprietorship named NA Consulting.
b The company purchased land valued at $ and a building valued at $ The purchase is paid with $ cash and a longterm note payable for $
c The company purchased $ of office supplies on credit.
d Aziz invested her personal automobile in the company. The automobile has a value of $ and is to be used exclusively in the business.
e The company purchased $ of additional office equipment on credit.
f The company paid $ cash salary to an assistant.
g The company provided services to a client and collected $ cash.
h The company paid $ cash for this month's utilities.
i The company paid $ cash to settle the account payable created in transaction c
j The company purchased $ of new office equipment by paying $ cash.
k The company completed $ of services for a client, who must pay within days.
I. The company paid $ cash salary to an assistant.
The company received $ cash in partial payment on the receivable created in transaction
n Aziz withdrew $ cash from the company for personal use.
Required
Prepare general journal entries to record these transactions use account titles listed in part
Open the following ledger accounts their account numbers are in parentheses use the balance column format: Cash ; Accounts Receivable ; Office Supplies
; Office Equipment ; Automobiles ; Building ; Land ; Accounts Payable ; Notes Payable ; N Aziz, Capital ; N Aziz,
Withdrawals ; Fees Earned ; Salaries Expense ; and Utilities Expense Post the journal entries from part to the ledger accounts and enter the
balance after each posting.
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