Question

The trial balance for BFF Systems, Inc. at March 15, 2013, follows:
During the remainder of March, BFF Systems Inc. completed the following transactions:
Mar 16 Collected $1,700 cash from a client on account.
18 Performed services on account, $1,900.
21 Received $1,500 cash for services performed.
23 Purchased supplies on account, $700.
25 Paid $1,300 in dividends.
27 Paid $3,300 on account.
29 Received $2,500 cash for services performed.
30 Paid rent, $1,600.
30 Paid employees’ salaries, $2,600.
Requirements
1. Journalize the transactions that occurred March 16 to March 30 in the journal.
2. Open the ledger accounts listed in the trial balance together with their beginning balances at March 15, 2013. Use the four-column account format illustrated in the chapter. Enter “Bal.” for the previous balance in the Item column. Post the transactions to the ledger, using dates, account numbers, and posting references. Calculate the new account balances.
3. Prepare the trial balance for BFF Systems, Inc. at the end of March.


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  • CreatedJuly 08, 2015
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