The following transactions occurred during the month for Teresa Parker, CPA:

Jun. 1 Parker opened an accounting firm by contributing $ 14,000 cash and office furniture with a fair market value of $ 5,200 in exchange for common stock.

5 Paid monthly rent of $ 1,500.

9 Purchased office supplies on account, $ 900.

14 Paid employee’s salary, $ 1,700.

18 Received a bill for utilities to be paid next month, $ 250.

21 Paid $ 700 of the accounts payable created on June 9.

25 Performed accounting services on account, $ 5,900. 28 Paid cash dividends of $ 6,700.

Requirements

1. Open the following four- column accounts of Teresa Parker, CPA: Cash, 110; Accounts Receivable, 120; Office Supplies, 130; Office Furniture, 140; Accounts Payable, 210; Utilities Payable, 220; Common Stock, 310; Dividends, 320; Service Revenue, 410; Salaries Expense, 510; Rent Expense, 520; Utilities Expense, 530.

2. Journalize the transactions and then post the journal entries to the four- column accounts. Keep a running balance in each account. Assume the journal entries are recorded on page 10 of the journal.

3. Prepare the trial balance as of June 30, 2015.