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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 40
Describing transactions, posting to T-accounts, and preparing a trial balance
The journal of Ward Technology Solutions, Inc., includes the following entries for May, 2012:
Requirements
1. Describe each transaction. For example, the May 4 transaction description could be "Paid cash for building."
2. Open T-accounts using the following account numbers: Cash, 110; Accounts receivable, 120; Supplies, 130; Building, 140; Accounts payable, 210; Common stock, 310; Service revenue, 410; Rent expense, 510; Salary expense, 520.
3. Post to the accounts. Write dates and journal references (use account numbers) in the accounts. Compute the balance of each account after posting.
4. Prepare the trial balance of Ward Technology Solutions at May 31, 2012.
The journal of Ward Technology Solutions, Inc., includes the following entries for May, 2012:
Requirements
1. Describe each transaction. For example, the May 4 transaction description could be "Paid cash for building."
2. Open T-accounts using the following account numbers: Cash, 110; Accounts receivable, 120; Supplies, 130; Building, 140; Accounts payable, 210; Common stock, 310; Service revenue, 410; Rent expense, 510; Salary expense, 520.
3. Post to the accounts. Write dates and journal references (use account numbers) in the accounts. Compute the balance of each account after posting.
4. Prepare the trial balance of Ward Technology Solutions at May 31, 2012.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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