The following transactions occurred in June 2015 for A. French Placement Agency of Fredericton:
2015
June .... 1 A. French invested $9,000 cash in the placement agency.
...........1 Bought equipment on account from Hook Co., $2,000.
...........4 Earned placement fees of $1,600, but payment will not be received until July.
...........5 A. French withdrew $100 for his personal use.
..........11 Placed a client on a local TV show, receiving $600 cash.
..........15 Bought supplies on account from Lyon Co., $500.
..........28 Paid telephone bill for June, $160.
.........28 Paid wages expense, $300.
.........29 Advertising bill from Shale Co. was received but not yet paid, $900.
The chart of accounts for A. French Placement Agency is as follows:
Chart of Accounts
Assets .......................................................... Owner's Equity
111 Cash .......................................... 311 A. French, Capital
112 Accounts Receivable ................ 321 A. French, Withdrawals
131 Supplies ................................................................
141 Equipment .................................................. Revenue
...............................................411 Placement Fees Earned
Liabilities ...................................................................
211 Accounts Payable ......................................... Expenses
........................................................ 511 Wages Expense
................................................... 521 Telephone Expense
.................................................. 531 Advertising Expense
Required
a. The ledger is already set up for you based on the Chart of Accounts.
b. Journalize (page 1) and post the June transactions.
c. Prepare a trial balance as of June 30, 2015?