This problem can be used in conjunction with Problem 2-66B.

In Problem 2-66B.

The following amounts summarize the financial position of Willis Computing, Inc., on October 31, 2016:

During November 2016, the business completed these transactions:

a. The business received cash of $3,900 and issued common stock.

b. Performed services for a customer and received cash of $6,000.

Requirements

1. Journalize the transactions of Willis Computing, Inc. Explanations are not required.
2. Prepare T-accounts for each account. Insert in each T-account its October 31 balance as given (example: Cash $2,100). Then, post the November transactions to the T-accounts.
3. Compute the balance in each account.

Transcribed Image Text:

Assets Liabilities Stockholders' Equity Retained Cash + Receivable + Supplies +Equipment= Payable + Stock + Earnings Accounts Accounts Common Ba 2,100 3,400 12,400 7,500 5,600 4,800