Question: Baldwin Realty Inc had the following transactions for the month

Baldwin Realty, Inc. had the following transactions for the month of May 2013.
May 2 Paid Rent Expense, $600.
4 Performed service for a customer and received cash, $1,000.
8 Purchased supplies on account, $400.
11 Received cash from credit customers on account, $1,200.
15 Sold an additional $5,000 of common shares.
19 Paid $500 on account.
27 Performed service for customers on account, $1,600.
31 Made a payment on the Notes Payable, $3,000.
The following T-accounts have been set up for Baldwin Realty, Inc. with their beginning balances as of May 1, 2013.
1. Journalize the transactions for the month of May.
2. Post the journal entries to the appropriate T-accounts. Identify all items by date.
3. Calculate the balance of each account at May 31, 2013.
4. Prove that the total of all the debit balances equals the total of all of the credit balances by preparing a trial balance.

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  • CreatedJuly 08, 2015
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