Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 3

Short Comprehensive Problem
Donegan's L awn Care Service began operations in July 2015. The company uses the following general ledger accounts:

The company engaged in the following transactions during its first month of operations:

a. Record each of the above transactions in general journal form. Include a brief explanation of the transaction as part of each journal entry.
b. Post each entry to the appropriate ledger accounts (use the T account format illustrated in Exhibit 3-8 on page 110).
Exhibit

c. Prepare a trial balance dated July 31, 2015.
d. Explain why the Retained Earnings account has a zero balance in the trial balance.