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    Set up T account and record each transaction

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    A6). Set up T account and record each transaction. Determine the balance of the account.

    May 2 - Norman started a computer programming business; Norman's programming Service, by investing $5,000
    May 5 - Purchased a computer for $2,500 in cash
    May 7 - purchased supplies on credit for $300
    May 19 - received cash for programming services performed, $500
    May 22 - received cash for programming services performed, $600
    May 25 - paid the rent for May, $650
    May 31 - Billed a customer for programming services performed, $250.

    A7). From the T account in A6, prepare a trial balance dated May 31, 20x5.

    A8). The trial balance that follows is out of balance. Assuming all balances are normal, place the accounts in proper order and correct the balance so that debits equal credits.

    Cash 2,000
    Accounts Payable 400
    Fuel expense 800
    unearned service revenue 250
    accounts receivable 1,300
    prepaid rent 150
    Ann Duncan, Capital 1,500
    service revenue 1,750
    wages expense 300
    Ann Duncan, withdrawals 650
    ___________________
    $5,850 $3,250

    A9 - Prepare a general journal and label it page 4. Record the following transactions in the journal:

    Sept. 6 - Billed a customer for services performed $1,900
    Sept. - Received partial payment from the customer billed Sept. 6th, $900.

    A10 - Prepare general ledger account forms for the following accounts:

    Cash (111), Accounts Receivable (113), Service Revenue (411) and post the transactions that are recorded in A9 to the ledger accounts, at the same time making the proper posting references.

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    Solution Summary

    The expert sets up T accounts and records each transaction. The balance of the accounts are provided.

    $2.19

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