Transactions Analysis and Trail Balance: Make T-Accounts for the following accou

Question

Transactions Analysis and Trail Balance: Make T-Accounts for the following accounts that appear in the general ledger of Daniel Kelly, an attorney: Cash, Accounts Receivable, Office Equipment, Legal Database Subscription, Accounts Payable, Common Stock, Dividends, Legal Fees Earned, Salaries Expense, Rent Expense, and Utilities Expense. Prepare journal entries and record the following October transactions in the T-Accounts and key all entries with the number identifying the transaction. Determine the balance in each account and prepare a trail balance sheet as of October 31.

Oct.

1

Explanation / Answer

Salary Rent Cash 2800 Cash 700 Bal. c/d 2800 Bal. c/d 700

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