This problem can be used in conjunction with Problem 2-58A. Refer to Problem 2-58A.

Requirements
1. Journalize the June transactions of Martin Resources, Inc. Explanations are not required.
2. Prepare T-Accounts for each account. Insert in each T-account its May 31 balance as given (example: Cash $1,400). Then, post the June transactions to the T-Accounts.
3. Compute the balance in eachaccount.

Transcribed Image Text:

Assets LiabilitiesStockholders' Equity Accounts Accounts Common Retained Cash + Reccivable + Earnings Supplies LandPayable Stock 3.500 Bal 1,400 1,300 11,600 8,000 2,800