Selected transactions from the journal of Teresa Gonzalez, Investment bróker, are presented below.?
Date Account Titles and Explanation Ref. Debit Credit
Aug 1 Cash 5,000
Teresa Gonzalez, Capital 5,000
(Owner’s investment of cash in business)
10 Cash 2,400
Service Revenue 2,400
(Received cash for services provided)
12 Office Equipment 5,000
Cash 1,000
Notes Payable 4,000
(Purchased office equipment for cash and notes payable)
25 Account Receivable 1,600
Service Revenue 1,600
(Billed Clients for services provided)
31 Cash 900
Account Receivable 900
(Received cash for on account)
Instructions
a) Post the Transaction on T accounts.
b) Prepare a trial Balance at August 31,2013
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Instructions
a) Post the Transaction on T accounts.
Cash
8/1 Dr 5,000
8/10 Dr 2,400
8/12 Cr 1,000
8/81 Dr 900
Ending Bal. Dr 7,300
Accounts Receivable
8/25 Dr 1,600
8/31 Cr 900
Ending Bal. Dr 700
Office Equipment
8/12 Dr 5,000
Note Payable
8/12 Cr 4,000
Teresa Gonzalez, Capital
8/1 Cr 5,000
Service Revenue
8/10 Cr 2,400
8/25 Cr 1,600
Bal. Cr 4,000
b) Prepare a trial Balance at August 31,2013
Teresa Gonzalez, Investment Broker
Trial Balance
August 31, 2013
Cash Dr $7,300
Account Receivable Dr 700
Office Equipment Dr 5,000
Note Payable Cr $4,000
Teresa Gonzalez, Capital Cr 5,000
Service Revenue Cr 4,000
Total Dr $13,000 Cr $13,000