Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 45

Recording transactions, using four-column accounts, posting, and preparing a trial balance
Maurey Wills started an environmental consulting company and during the first month of operations (February 2012), the business completed the following transactions:
a. Wills began the business with an investment of $48,000 cash and a building at $30,000. The business issued $78,000 of common stock to Wilis.
b. Purchased office supplies on account, $2,000.
c. Paid $14,000 for office furniture.
d. Paid employee's salary, $2,200.
e. Performed consulting services on account, $3,700.
f. Paid $900 of the account payable created in transaction (b).
g. Received a $600 bill for advertising expense that will be paid in the near future.
h. Performed consulting service for cash, $1,100.
i. Received cash on account, $1,100.
j. Paid the following cash expenses:
(1) Rent on equipment, $1,000.
(2) Utilities, $900.
k. Paid cash dividends of $2,300.
Requirements
1. Open the following four-column accounts: Cash, Accounts receivable, Office supplies, Office furniture, Building, Accounts payable, Common stock, Dividends, Service revenue, Salary expense, Rent expense, Advertising expense, and Utilities expense.
2. Record each transaction in the journal. Use the letters to identify the transactions.
3. Post to the accounts and keep a running balance for each account.
4. Prepare the trial balance of Wills Environmental Consulting Company at February 29, 2012.