Selected transactions from the journal of Trisha Spoor, investment broker, are presented below. Instructions (a) Post the
Question:
Selected transactions from the journal of Trisha Spoor, investment broker, are presented below.
Instructions
(a) Post the transactions to T-accounts.
(b) Prepare a trial balance at August 31,2014.
Transcribed Image Text:
Date Account Titles and Explanation Ref. Debit Credit Aug.Cash 5,000 Owner's Capital 5,000 (Owner's investment of cash in business) 10 Cash 2,400 Service Revenue 2,400 (Received cash for services performed) 12 Equipment 5,000 Cash Notes Payable 3,000 2,000 (Purchased equipment for cash and notes payable) 25Ac ccounts Receivable Service Revenue 1,700 1,700 (Billed clients for services performed) 31 Cash 900 Accounts Reccivable 900 (Receipt of cash on account)
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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