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    Journal Entries, Ledgers, and Trial Balance

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    Please see the attached file.

    Sept. 1 Transferred $2,500 from personal savings account to business checking account.
    Sept. 10 Signed up for home inspection course at local community college. Cost is $1,000. Put this on the business credit card.
    Sept. 15 Purchased reference materials from local book store. Paid $250 cash.
    Sept. 25 Signed up for home inspection licensing exam. Placed the $400 fee on the business credit card.
    Oct. 1 Purchased a 1 year insurance policy for the business by putting the $2,400 premium on the business credit card.
    Oct. 10 Paid $250 on the business credit card. (note: no interest has been charged to the account yet)
    Oct. 15 Purchased tools for the business by paying $500 cash.
    Oct. 30 Paid $200 to get business cards printed. (Note: this an advertising expense)
    Oct. 31 Purchased candy baskets to leave at local realtors' offices to advertise business. Paid $100 cash.
    Nov. 1 Purchased office supplies needed to prepare inspection reports. Paid $60 cash.
    Nov. 1 Purchased truck costing $10,000 to use for business. Took out auto loan from local bank.
    Nov. 8 Completed home inspections this week for clients, received checks for $1,200.
    Nov. 15 Completed home inspections this week for clients, received checks totaling $1,600.
    Nov. 25 Completed home inspections this week for clients, received checks totaling $750.
    Nov. 30 Paid $250 on the business credit card (note: $25 was interest).

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    https://brainmass.com/business/trial-balance/journal-entries-ledgers-and-trial-balance-261596

    Attachments

    Solution Summary

    The solution explains how to prepare the journal entries, post to ledger and prepare a trial balance. There are two attachments for this solution. One is an Excel file containing the journal entries and the other is an Excel file containing the ledgers.

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