The trial balance for Security Systems, Inc., at May 15, 2018, follows:

During the remainder of May, Security Systems, Inc., completed the following transactions:May 16 Collected $1,700 cash from a client on account.18 Provided services on account, $2,200.21 Received $2,800 cash for services provided.23 Purchased supplies on account, $600.25 Paid $1,600 in dividends.27 Paid $2,000 on account.29 Received $4,200 cash for services provided.30 Paid rent, $900.31 Paid employees? salaries, $1,950.

Requirements

1. Journalize the transactions that occurred May 16 to May 31 on page 6 of the journal.

2. Open T-accounts for the ledger accounts listed in the trial balance and enter their beginning balances at May 15. Use the four-column account format illustrated in the chapter. Enter ?Bal? for the May 15 balance in the Item column. Post the transactions to the ledger, using dates, account numbers, and posting references. Calculate the new account balances at May 31, 2018.

3. Prepare the trial balance for Security Systems, Inc., at May 31, 2018.

Transcribed Image Text:

Security Systems, Inc. Trial Balanoe May 15, 2018 ACCT # ACCOUNT Cash DEBIT CREDIT $ 4,700 5,300 110 112 Accounts Receivable 115 Supplies Equipment Accounts Payable 150 140 15,750 $ 2,900 22,000 210 311 Common Stock 315 Dividends 2,900 411 Service Revenue 8,200 2,800 1,500 $33,100 Salaries Expense Rent Expense 511 515 $33,100 Total