Requirements
1. Create blank T accounts for the following accounts: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, Repair Expense.
2. Journalize the transactions and then post to the T accounts. Use the table in table to help with the journal entries.
|
Increase |
Decrease |
|
|
Assets |
debit |
credit |
|
Liabilities |
credit |
debit |
|
Stockholders’ Equity |
credit |
debit |
|
Revenues |
credit |
debit |
|
Expenses |
debit |
credit |
|
Dividends |
debit |
credit |
3. Total each T account to determine its balance at the end of the month.
4. Prepare the trial balance of Moe’s Mowing, Inc., at September 30, 2008.