The test is divided into three sections: 1. Journalizing transactions (50%) 2. Using T-accounts (30%) 3. Producing an Unadjusted Trial Balance (20%) . use 1. (50%) Using the Journal explained in class, please journalize the following transactions: Nov. 1 - John Smith invested 20,000 cash in his new business called "Goldsmith Nov. 2 - Goldsmith bought a computer using 1,000 cash . Nov. 3 - Goldsmith bought supplies for 5,000 to be paid in the near future Nov. 4 - John Smith withdrew 2,000 cash from Goldsmith for his personal .Nov.5 - Goldsmith paid 1,000 cash for renting a location Nov. 6 - Goldsmith hired a new office assistant Nov. 7 - Goldsmith received revenues for 3,000 cash .Nov. 8 - Goldsmith paid 2,500 cash for the supplies bought on Nov. 3 Nov. 9-Goldsmith asked a loan to the TD Bank Nov. 10 - TD Bank loaned Goldsmith 10,000 cash Nov. 11 - Goldsmith paid 700 cash for the first installment of the loan like this: 500 for interest, and 200 for capital. .Nov. 12 - Goldsmith paid the utilities bill for 200 cash Nov 15 - Goldsmith paid the wage to the office assistant for 1,000 cash .Nov. 19-Goldsmith bought a new software for the business for 3,000 cash Nov. 21 - Goldsmith provided services to a customer for 5,000, the customer agreed to pay in the future Nov. 23 - The customer that was owing money to Goldsmith makes a payment of 1,000 cash Nov. 24 - John Smith buys a car for 5,000 cash for his personal use Nov. 25 - Goldsmith buys supplies for 2,000 cash Nov. 28 - Goldsmith receives 3,000 cash for services provided to customers Nov. 30 - Goldsmith pays 1,000 cash to the office assistant for his wage. 2. (30%) Based on the transactions from question 1, please create the corresponding T- accounts for each of the accounts used in the previous question. Please make sure you find the balance of each T-account. 3. (20%) Based on the balances of the T-accounts found in question 2, please build an unadjusted trial balance for Goldsmith for November 2019, please make sure that the accounts are listed in the following way: First, the assets, then the Liabilities and then the Owner's Equity . The test is divided into three sections: 1. Journalizing transactions (50%) 2. Using T-accounts (30%) 3. Producing an Unadjusted Trial Balance (20%) . use 1. (50%) Using the Journal explained in class, please journalize the following transactions: Nov. 1 - John Smith invested 20,000 cash in his new business called "Goldsmith Nov. 2 - Goldsmith bought a computer using 1,000 cash . Nov. 3 - Goldsmith bought supplies for 5,000 to be paid in the near future Nov. 4 - John Smith withdrew 2,000 cash from Goldsmith for his personal .Nov.5 - Goldsmith paid 1,000 cash for renting a location Nov. 6 - Goldsmith hired a new office assistant Nov. 7 - Goldsmith received revenues for 3,000 cash .Nov. 8 - Goldsmith paid 2,500 cash for the supplies bought on Nov. 3 Nov. 9-Goldsmith asked a loan to the TD Bank Nov. 10 - TD Bank loaned Goldsmith 10,000 cash Nov. 11 - Goldsmith paid 700 cash for the first installment of the loan like this: 500 for interest, and 200 for capital. .Nov. 12 - Goldsmith paid the utilities bill for 200 cash Nov 15 - Goldsmith paid the wage to the office assistant for 1,000 cash .Nov. 19-Goldsmith bought a new software for the business for 3,000 cash Nov. 21 - Goldsmith provided services to a customer for 5,000, the customer agreed to pay in the future Nov. 23 - The customer that was owing money to Goldsmith makes a payment of 1,000 cash Nov. 24 - John Smith buys a car for 5,000 cash for his personal use Nov. 25 - Goldsmith buys supplies for 2,000 cash Nov. 28 - Goldsmith receives 3,000 cash for services provided to customers Nov. 30 - Goldsmith pays 1,000 cash to the office assistant for his wage. 2. (30%) Based on the transactions from question 1, please create the corresponding T- accounts for each of the accounts used in the previous question. Please make sure you find the balance of each T-account. 3. (20%) Based on the balances of the T-accounts found in question 2, please build an unadjusted trial balance for Goldsmith for November 2019, please make sure that the accounts are listed in the following way: First, the assets, then the Liabilities and then the Owner's Equity
