General Ledger Accounts; Trial Balance Diane Bernick opened Bernick's Consulting. Transactions and related journal entries for...

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General Ledger Accounts; Trial Balance Diane Bernick opened Bernick's Consulting. Transactions and related journal entries for January are shown. Jan. 1 Bernick invested cash in the business, $12,000. 2 Paid office rent, $750. 3 Purchased office equipment on account, $1,300. 5 Received cash for services rendered, $950. 8 Paid phone bill, $85. 10 Paid for a magazine subscription (miscellaneous expense), $20. 11 Purchased office supplies on account, $250. 15 Made a payment on account (see Jan. 3 transaction), $200. 18 Paid part-time employee, $600. 21 Received cash for services rendered, $800. 25 Paid utilities bill, $105. 27 Bernick withdrew cash for personal use, $400. 29 Paid part-time employee, $600. DATE 20-- Jan. 1 Cash Jan. 2 GENERAL JOURNAL PAGE 1 DESCRIPTION POST. REF. DEBIT CREDIT Diane Bernick, Capital Owner's original investment Rent Expense Cash Paid office rent for January Jan. 31 Office Equipment Accounts Payable Purchased office equipment on account 12,000.00 12,000.00 750.00 750.00 1,300.00 1,300.00 General Ledger Accounts; Trial Balance Diane Bernick opened Bernick's Consulting. Transactions and related journal entries for January are shown. Jan. 1 Bernick invested cash in the business, $12,000. 2 Paid office rent, $750. 3 Purchased office equipment on account, $1,300. 5 Received cash for services rendered, $950. 8 Paid phone bill, $85. 10 Paid for a magazine subscription (miscellaneous expense), $20. 11 Purchased office supplies on account, $250. 15 Made a payment on account (see Jan. 3 transaction), $200. 18 Paid part-time employee, $600. 21 Received cash for services rendered, $800. 25 Paid utilities bill, $105. 27 Bernick withdrew cash for personal use, $400. 29 Paid part-time employee, $600. DATE 20-- Jan. 1 Cash Jan. 2 GENERAL JOURNAL PAGE 1 DESCRIPTION POST. REF. DEBIT CREDIT Diane Bernick, Capital Owner's original investment Rent Expense Cash Paid office rent for January Jan. 31 Office Equipment Accounts Payable Purchased office equipment on account 12,000.00 12,000.00 750.00 750.00 1,300.00 1,300.00

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Answer To prepare the general ledger accounts and trial balance we need to analyze the transactions and create appropriate accounts for each transacti... View the full answer