Question

The following transactions occurred in November 201X for A. Glover’s Placement Agency:
201X
Nov. 1 A. Glover invested $5,000 cash in the placement agency.
1 Bought equipment on account from Tinker Co., $1,200.
3 Earned placement fees of $2,500, but payment from Avon Co. will not be received until July.
5 A. Glover withdrew $1,000 for his personal use.
7 Paid wages expense, $1,300.
9 Placed a client on a local TV show, receiving $900 cash.
15 Bought supplies on account from Reindeer Co., $300.
28 Paid telephone bill for November, $190.
29 Advertising bill from Shimmer Co. received but not paid, $400.
The chart of accounts includes Cash, 111; Accounts Receivable, 112; Supplies, 131; Equipment, 141; Accounts Payable, 211; A. Glover, Capital, 311; A. Glover, Withdrawals, 312; Placement Fees Earned, 411; Wage Expense, 511; Telephone Expense, 521; and Advertising Expense, 531.
Your task is to do the following:
a. Set up a ledger based on the chart of accounts.
b. Journalize (all page 1) and post the November transactions.
c. Prepare a trial balance at November 30, 201X.



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  • CreatedApril 24, 2014
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