Question: I've journalized a balance sheet but not sure it is correct? can someone show me transactions transactions, post, and a trial balance? P3-5B Bob Royce

I've journalized a balance sheet but not sure it is correct? can someone show me transactions transactions, post, and a trial balance?

P3-5BBob Royce incorporated Royce Consulting, an accounting practice, on May 1, 2014. During the first month of operations, these events and transactions occurred.May1Stockholders invested $100,000 cash in exchange for common stock of the corporation.

2Hired a secretary-receptionist at a salary of $2,500 per month.

3Purchased $800 of supplies on account from Pickering Supply Company.

7Paid office rent of $1,400 for the month.

11Completed a tax assignment and billed client $2,500 for services performed.

12Received $4,200 advance on a management consulting engagement.

17Received cash of $3,300 for services completed for Woodman Co.

31Paid secretary-receptionist $2,500 salary for the month.

31Paid 50% of balance due Pickering Supply Company.

The company uses the following chart of accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense.

Instructions

(c)Cash $103,200

Tot. trial balance $110,400

(a)Journalize the transactions, including explanations.

(b)Post to the ledger T-accounts.

(c)Prepare a trial balance on May 31, 2014.

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