Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Professional Fees Earned; Salaries Expense; and Rent Expense. X Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T-accounts and key all entries with the number identifying the transaction. Finally, determine the balance in each account and prepare a trial balance as of December 31 Question 1 Not complete Marked out of 20.00 P Flag question Transaction Analysis and Trial Balance Make T-accounts for the following acco Using the accounting equation, record each of the transactions in columnar form Dec 1 Mead opened a checking account on December 1 at United Bank in the name of Mead Pet Hospital and deposited cash. Mead received common stock for his investment. $25,000 2 Paid office rent for December. 1,100 3 Purchased office equipment on account. 2.900 4 Purchased supplies for cash. 2,500 5 Billed clients for services rendered. 8,500 6 Paid secretary's salary. 1,950 7 Paid on account for equipment purchased on Dec. 3. 1,500 8 Collected from clients previously billed for services. 6,000 9 Paid stockholders a cash dividend. 2,500 BusinessCourse Return to course Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Me Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the fo Dec 1 Mead opened a checking account on December 1 at United Bank in the name of Mead Pet Hospital and deposited cash. Mead received common stock for his investment. $25,000 2 Paid office rent for December. 1,100 3 Purchased office equipment on account 2,900 4 Purchased supplies for cash. 5 Billed clients for services rendered. 6 Paid secretary's salary. 2.500 8,500 1,950 7 Paid on account for equipment purchased on Dec.3 1,500 8 Collected from clients previously billed for services 6,000 9 Paid stockholders a cash dividend 2500 +Accounts Receivable Cash Office Equipment Supplies Accounts Payable +Common Stock+Retained Earnings 1 S $ 0 S C 0 $ 0 0 0 C 0 0 0 C 0 6 0 0 7 0 C 0 0 C C C C 0+S 0+S 0-5 0 S 0+S oolo o oo o o olo Ooo OOo oolo olo ooo OooOo ino 3 C 0 0 C C 5 0 C 6 0 7 0 0 8 0 0 0+S General Journal Date Description Debit Credit (1) To record issuance of common stock (2) To record payment of rent expense. (3) To record purchase of office equipment on account. (4) C C To record purchase of supplies (5) To record professional fees billing. (6) 0 0 0 To record payment of salaries expense. (7) C C To record payment on office equipment (8) C To record receipt of cash from customers Accounts Payable Accounts Receivable Cash Office Accounts Receivable Common Stock (3) C () (2) Dividends Ba C C Office Equipment (4) Professiohal Fees Earned Rent Expense (6) (7) Sal ar es Expense Supplies Utlities Expense oooo eeeele 11 ms an O record cash payment of dividends Cash Accounts Receivable Office Equipment (5 Supplies (21 (4) Bal 0 Bal (4) Bal (6) (8) (9) C Bal Common Stocik Dividends Accounts Payable Professional Fees Earned (1) Gal C Ba Bal Rent Expense Salaries Expense Ba TRIAL BALANCE MEAD PET HOSPITAL Trial Balance December 31 Credit Debit cash Accoune Receivable Supolies Ohetoamie Nointsaabe Comition otk otesonal armed MAae ene Rent anse 3333383 (1) (7) 0 0 Bal 0 Bal 0 Salaries Expense Rent Expense (6) (2) 0 Bal Bal 0 0 TRIAL BALANCE MEAD PET HOSPITAL Trial Balance December 31 Debit Credit Cash 0 S S Accounts Receivable Supplies Office Equipment 0 Accounts Payable Common Stock 0 Dividends Professional Fees Earned 0 Salaries Expense C 0 Rent Expense 0 S Totals Check Save Answers O OO Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Professional Fees Earned; Salaries Expense; and Rent Expense. X Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T-accounts and key all entries with the number identifying the transaction. Finally, determine the balance in each account and prepare a trial balance as of December 31 Question 1 Not complete Marked out of 20.00 P Flag question Transaction Analysis and Trial Balance Make T-accounts for the following acco Using the accounting equation, record each of the transactions in columnar form Dec 1 Mead opened a checking account on December 1 at United Bank in the name of Mead Pet Hospital and deposited cash. Mead received common stock for his investment. $25,000 2 Paid office rent for December. 1,100 3 Purchased office equipment on account. 2.900 4 Purchased supplies for cash. 2,500 5 Billed clients for services rendered. 8,500 6 Paid secretary's salary. 1,950 7 Paid on account for equipment purchased on Dec. 3. 1,500 8 Collected from clients previously billed for services. 6,000 9 Paid stockholders a cash dividend. 2,500 BusinessCourse Return to course Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Me Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the fo Dec 1 Mead opened a checking account on December 1 at United Bank in the name of Mead Pet Hospital and deposited cash. Mead received common stock for his investment. $25,000 2 Paid office rent for December. 1,100 3 Purchased office equipment on account 2,900 4 Purchased supplies for cash. 5 Billed clients for services rendered. 6 Paid secretary's salary. 2.500 8,500 1,950 7 Paid on account for equipment purchased on Dec.3 1,500 8 Collected from clients previously billed for services 6,000 9 Paid stockholders a cash dividend 2500 +Accounts Receivable Cash Office Equipment Supplies Accounts Payable +Common Stock+Retained Earnings 1 S $ 0 S C 0 $ 0 0 0 C 0 0 0 C 0 6 0 0 7 0 C 0 0 C C C C 0+S 0+S 0-5 0 S 0+S oolo o oo o o olo Ooo OOo oolo olo ooo OooOo ino 3 C 0 0 C C 5 0 C 6 0 7 0 0 8 0 0 0+S General Journal Date Description Debit Credit (1) To record issuance of common stock (2) To record payment of rent expense. (3) To record purchase of office equipment on account. (4) C C To record purchase of supplies (5) To record professional fees billing. (6) 0 0 0 To record payment of salaries expense. (7) C C To record payment on office equipment (8) C To record receipt of cash from customers Accounts Payable Accounts Receivable Cash Office Accounts Receivable Common Stock (3) C () (2) Dividends Ba C C Office Equipment (4) Professiohal Fees Earned Rent Expense (6) (7) Sal ar es Expense Supplies Utlities Expense oooo eeeele 11 ms an O record cash payment of dividends Cash Accounts Receivable Office Equipment (5 Supplies (21 (4) Bal 0 Bal (4) Bal (6) (8) (9) C Bal Common Stocik Dividends Accounts Payable Professional Fees Earned (1) Gal C Ba Bal Rent Expense Salaries Expense Ba TRIAL BALANCE MEAD PET HOSPITAL Trial Balance December 31 Credit Debit cash Accoune Receivable Supolies Ohetoamie Nointsaabe Comition otk otesonal armed MAae ene Rent anse 3333383 (1) (7) 0 0 Bal 0 Bal 0 Salaries Expense Rent Expense (6) (2) 0 Bal Bal 0 0 TRIAL BALANCE MEAD PET HOSPITAL Trial Balance December 31 Debit Credit Cash 0 S S Accounts Receivable Supplies Office Equipment 0 Accounts Payable Common Stock 0 Dividends Professional Fees Earned 0 Salaries Expense C 0 Rent Expense 0 S Totals Check Save Answers O OO