REQUIRED:

2)Post the transactions to the ledger. (Use T- Accounts.)

3)Post the closing entries.

4) Make a post-closing trial balance.

Oct 1Dan sold $70,000 worth of stock (50 shares) to start the business.

Oct 1Dan purchased $9,500 worth of office equipment on account from Keene's

Furniture Supply.

Oct 1Dan paid October's rent on the office. He wrote a check for $2,500.

Oct 2Dan purchased $400 worth of office supplies for cash.

Oct 4The telephone was installed. We paid $95 (Utilities Expense).

Oct 4Dan placed an advertisement in the Anoka County Shopper. It cost $150 (cash).

Oct 4Dan started a petty cash fund with $50 for a fund balance.

Oct 5We purchased (for cash) $45 worth of stamps (Miscellaneous Expense).

Oct 5A three-month umbrella insurance policy was purchased for $720 (cash).

Oct 7Bebus's Automotive Supply Company paid us $2,800 (cash) for setting up their

books.

Oct 9We earned $3,200 from Dietz's Fine Furniture Company for setting up their

books. They will pay us later.

Oct 12 We paid a part-time employee $90 for running errands. There are no taxes to be

withheld.

Oct 14 Smith's Food Service, Inc. paid us $1,700 for helping them with their taxes.

The actual bill was for $3,500. They will pay us the rest next month.

Oct 19 We paid our part-time employee $80 for running errands. There are no taxes to be

withheld.

Oct 23 We sent a check for $1,000 to Keene's Furniture Supply for the office equipment

purchased on October 1st.

Oct 26 We earned $800 for consulting with Anderson's Clothing Outlet. They will pay

us later.

Oct 26 We paid our part-time employee $50 for running errands. There are no taxes to

be withheld.

Oct 30 Dietz's Fine Furniture Company paid us $900 on account for the work we did

for them on October 9.

Oct 30 Dan paid the stockholders $600 in dividends.

Oct 31 Dan paid the electric bill which was $90.

Oct 31 Dan replenished the petty cash fund. He had used $12 for office supplies and $18

for miscellaneous expenses.