Requirements
1. Open the following four-column accounts of Teresa Parker, CPA: Cash, 110;
Accounts Receivable, 120; Office Supplies, 130; Office Furniture, 140; Accounts
Payable, 210; Utilities Payable, 220; Common Stock, 310; Dividends, 320;
Service
Revenue, 410; Salaries Expense, 510; Rent Expense, 520; and Utilities
Expense, 530.
2. Journalize the transactions and then post the journal entries to the four-column
accounts. Explanations are not required for the journal entries. Keep a running
balance in each account. Assume the journal entries are recorded on page 10 of the
journal.
3. Prepare the trial balance as of June 30, 2024.

Transcribed Image Text:

The following transactions occurred during the month for Teresa Parker, CPA: Jun. 1 Parker opened an accounting firm by contributing $13,200 cash and office furniture with a fair market value of $5,300 in exchange for common stock. 5 Paid monthly rent of $1,300. 9 Purchased office supplies on account, $600. 14 Paid employee's salary, $1,900. 18 Received a bill for utilities to be paid next month, $370. Paid $500 of the accounts payable created on June 9. 21 25 Performed accounting services on account, $5,700. Paid cash dividends of $6,700. 28