Question 2.

T accounts

Cash

Supplies

Accounts payable

Common stock

Dividends

Sales commissions

Rent expense

Office salaries expense

Automobile expense

Supplies expense

Miscellaneous expense

Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Instructions On August 1, 2016, Bill Hudson established Heritage Realty, which completed the following transactions during the month: Bill Hudson transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $32,500 Aug. 1 2 Paid rent on office and equipment for the month, $2,350. 3 Purchased supplies on account, $2,250. 4 Paid creditor on account, $900. Earned sales commissions, receiving cash, $16,360. 6 Paid automobile expenses for month, $1,690, and miscellaneous expenses, $620. 7 Paid office salaries, $3,000. 8 Determined that the cost of supplies used was $1,100. 9 Paid dividends, $3,000. 5 1Journalize entries for transactions Aug. 1 through 9. Refer to the Chart of Accounts for exact wording of account 2. Post the journal entries to the I accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance. 3. Prepare an as of August 31, 2016