Selected transactions from the journal of Consuela Brown, investment broker, are presented below.
|
Date |
Account Titles and Explanation |
Ref. |
Debit |
Credit |
|
Aug. 1 |
Cash |
5,000 |
||
|
Owner’s Capital |
5,000 |
|||
|
(Owner’s investment of cash in business) |
||||
|
10 |
Cash |
2,400 |
||
|
Service Revenue |
2,400 |
|||
|
(Received cash for services provided) |
||||
|
12 |
Equipment |
5,000 |
||
|
Cash |
5,000 |
|||
|
Notes Payable |
||||
|
and notes payable) |
||||
|
25 |
Accounts Receivable |
1,700 |
||
|
Service Revenue |
1,700 |
|||
|
(Billed clients for services provided) |
||||
|
31 |
Cash |
900 |
||
|
Accounts Receivable |
||||
|
(Receipt of cash on account) |
Instructions
(a) Post the transactions to T accounts.
(b) Prepare a trial balance at August 31, 2012.