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

تمرين 23

Short Comprehensive Problem
Sanlucas, Inc., provides home inspection services to its clients. The company's trial balance dated June 1, 2015, is shown below:

Sanlucas engaged in the following transactions in June:

Instructions
a. Record the company's June 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 June 30, 2015. (Hint: Retained Earnings will be reported at the same amount as on June 1. Accounting for changes in the Retained Earnings account resulting from revenue, expense, and dividend activities is discussed in Chapter 5.)
d. Has the company paid all of the dividends that it has declared? Explain.