This assignment has $3$ parts; Journaling Transactions, posting to the Ledger and performing a Trial Balance.

Transactions: This are the transaction you will use for this homework. In addition to the link provided the transaction are also listed below the instructions

home work transactionv$2\_$student.docxDownload home work transactionv$2\_$student.docx

Part $1$ Journaling transactions. You will need to correctly add each transaction $($listed below$)$ into the journal template. Remember to download the all of the templates provided.

Journal template$\_$student.xlsxDownload Journal template$\_$student.xlsx

Part $2$ Posting to the ledger. Transfer the amounts to the correct T$-$accounts in the Ledger template. The T$-$accounts are labeled and balances will be calculated automatically.

Ledger Template$\_$student$2.$xlsxDownload Ledger Template$\_$student$2.$xlsx

Part $3$ Performing a Trial Balance; List the accounts and balances in the correct debit or credit columns in the proper order. The Debit and Credit balance totals must balance.

Given the information above, where will you find the accounts that you will need to use?

Transactions:

Sold goods for cash worth $$5,000.$

Sold goods on account for $$3,000.$

Purchased office supplies for cash worth $$500.$

Purchased inventory on account for $$2,000.$

Paid $$300$ for the monthly electricity bill.

: Paid $$150$ for equipment maintenance.

Bought inventory worth $$1,200,$ paid $$600$ in cash and the rest on account.

Collected $$500$ for services to be rendered later

Collected $$1,000$ from customers on account.

Paid $$1,500$ to suppliers on account.

Bought office supplies worth $$200$ on account.

Paid $$400$ for office rent.

: Provided services worth $$2,500,$ received $$1,000$ in cash and the rest on account.

Owner withdrew $$800$ cash for personal use.

Paid $$1,000$ towards a bank loan.

: Paid $$250$ for water and gas bills.

Paid $$100$ for building maintenance.

Sold inventory worth $$2,000,$ received $$1,200$ in cash and the rest on account.

Owner invests $$2000$ in business

Collected $$500$ from customers on account.

Paid $$700$ to suppliers on account.

Rendered services previously paid for.