Question #2

Mr. Francisco Rosario started a consulting service business in Newark, New Jersey on January 1, 2016 and called it Rosario Consulting Service. During January 2016, the followin transactions occurred: January 1. Mr. Rosario invested $38,000 cash in the business. January 5. Paid $950 for office rent for the month of January. January 10. Purchased office supplies for $250 on account. January 15. Purchased office equipment for $10,000 in cash. January 22. Performed consulting services and billed client for $4,000. January 27. Paid utility bill ror $300.0o. January 31. Withdrew $300.00 for personal use. PLEASE TAKE NOTE: MR. ROSARIO USED THE FOLLOWING ACCOUNTS: ASSETS: CASH, ACCOUNTS RECEIVABLE, OPFFICE SUPLIES,OFFICE EQUIPMENT LIABILITIES: ACCOUNTS PAYABLE. OWNER'S EQUITY: ROSARIO, CAPITAL, ROSARIO , DRAWING REVENUE: SERVICE REVENUE. EXPENSES: RENT EXPENSE, UTILITIES EXPENSE. REQUIRED: Record the above transactions in a General Journal. Post the all the Journal transactions directly into two-column T-Account Ledgers as debits and credits. Key in each entry by date as the date in the Journal. Determine the Ending Balance in each T-Account. Prepare a Month-end Trial Balance (50 Points) 1. 2. 3