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Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here. Instructions(a) Post the transactions to T accounts.(b) Prepare a trial balance at August 31,2012. Account Titles Credit Debit 8,000 Date Aug. Cash Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 8,000 10 1,700 1,700 12

Chapter 3, Exercises #13

Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here.

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Instructions(a) Post the transactions to T accounts.(b) Prepare a trial balance at August 31,2012.

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Account Titles Credit Debit 8,000 Date Aug. Cash Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 8,000 10 1,700 1,700 12 6,200 1,200 25 3,400 3,400 31 600 600

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(a) Cash Aug. 1 8,000 10 1,700 31 600 Aug. 12 1,200 Bal. 9,100 Accounts Receivable Aug. 25 3,400 Au…View the full answer

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Related Book For answer-question
Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

ISBN: 978-0470534779

Answers for Questions in Chapter 3

Brief Exercises:
Broadening Your Perspective:
Continuing cookie chronicle:
DO IT! Review:
Exercises:
IFRS Exercises:
Problem Set A:
Problem Set B:
Questions:

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