Dr. Kristine Cohen opened a medical practice specializing in physical therapy. During the first month of operation (July), the business, titled Dr. Kristine Cohen, Professional Corporation (PC), experienced the following events:

Requirements
1. After journalizing the transactions of Exercise 2-19 A, post the entries to the ledger, using T-accounts. Key transactions by date.
2. Prepare the trial balance of Dr. Kristine Cohen, PC, at July 31, 2016.
3. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on July 31.

Transcribed Image Text:

A1 Yellowberry, Inc. Trial Balance December 31, 2016 Balance Debit Cre 3Account Title 4 Cash 5 Accounts receivable 6 Supplies 7Land 8 Equipment 9 Accounts payable 10 Note payable 11 Common stock 12 Retained earnings 13 Service revenue 14 Salary expense 15 Rent expense 16 Utilities expense 17 Total 18 Credit Is 4,000 14,000 1,000 | 48,000 27,000 26,000 13.,000 2000 31,600 29,000 9,000