Steve Ruiz, Certified Public Accountant, operates as a professional corporation (P.C.). The business completed these transactions during the first part of January, 2012:

Requirements
1. Journalize the transactions. Explanations are not required.
2. Post to the T-accounts. Key all items by date and denote an account balance on January 18,
2012, as Bal.
3. Prepare a trial balance at January 18, 2012. In the Serial Exercise of Chapter 3, we add transactions for the remainder of January and will require a trial balance at January31.

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Received $11,000 cash from Ruiz, and issued common stock to him. 2 Paid monthly office rent, $700. 3 Paid cash for a Dell computer, $3,900, with the computer expected to Jan 2 remain in service for five years. 4 Purchased office furniture on account, $4,700, with the furniture projected to last for five years 5 Purchased supplies on account, $400. 9 Performed tax services for a client and received cash for the full amount 12 18 of $1,000. Paid utility expenses, $200. Performed consulting services for a client on account, $1,500.