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

Exercise 29

Analyzing and journalizing transactions, posting, and preparing a trial balance
Vince Rockford practices medicine under the business title Vince Rockford, M.D., P.C. During March, the medical practice completed the following transactions:

The business uses the following accounts: Cash, Accounts receivable, Supplies, Land, Accounts payable, Notes payable, Common stock, Dividends, Service revenue, Salary expense, Rent expense, and Utilities expense.
Requirements
1. Journalize each transaction, as shown for March 1. Explanations are not required.

2. Post the transactions to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal , as shown in the chapter.
3. Prepare the trial balance of Vince Rockford, M.D., P.C., at March 31, 2012.