Question $2$: True$/$False statements:

The general ledger contains all the asset and liability accounts but no owner's equity accounts.

The general ledger is sometimes referred to as simply the ledger.

The accounts in the general ledger are arranged in alphabetical order.

Each account in the general ledger is numbered for easier identification.

The general ledger is a book of original entry.

An account is an accounting record of either a specific asset or a specific liability.

An account shows only increases, not decreases, in the item it relates to$.$

Some items, such as Cash and Accounts Receivable, are combined into one account.

An account has a left, or credit side, and a right, or debit side.

A simple form of an account consisting of just the account title, the left side, and the right side, is called a $T$ account.

Instructions: Identify each statement as true or false. And correct false statements.

Question $3$: Artistic Hand Co$.$ owned by Ali had the following accounts on Jun $1,2018$: Cash $=8,\frac{000}{?}$ Equipment $=5,\frac{000}{?}$ Accounts Payable $=3,\frac{000}{?}$ Ali's Capital $=10,000.$

The following transactions took place during the month of Jun:

$\backslash$table$[[$Jun$,$Ali invested $$20,000$ Land and $$5,000$ cash into the business.$],[3,$Paid $$120$ amount due to electric bill received in May.$],[5,$Paid $$400$ cash for this month's office rent.$],[6,$Paid $$900$ cash for six months car rent.$],[8,$Hired an office manager for a salary of $$2,000$ per month.$],[10,$Purchased $$2,500$ of supplies. Paid $$500$ cash and the remainder on credit.$],[12,$Purchased office equipment costing $$700$ on account.$],[16,$Completed a house blueprint and billed client for $$3,200.],[18,$Received $$3,500$ advance on engineering consulting services.$],[19,$Provided a house design for $$2,000$ to a client. Collected $$800$ and the$],[20,$remainder will be collected later.$],[23,$Received a bill of $$200$ from advertising agency for advertising services.$],[24,$Received an internet bill of $$350.$ Paid $$150$ and the rest on credit.$],[26,$Collected $$1,500$ from a customer for previously provided consulting service.$],[28,$Ali withdrew $$500$ cash and $$100$ supplies for personal use$],[30,$Paid $$1,200$ of a balance due to a vendor.$],[31,$Paid office manager $$2,000$ salary for the month.$]]$

Instructions:

Journalize Jun transactions.

Post June's transactions to Ledger $($G$/$L$).$

Prepare the trail balance on Jun $31,2018.$

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