For three days now I\'ve been trying to get my t-accounts andtrial balance to eq
ID: 2433329 • Letter: F
Question
For three days now I've been trying to get my t-accounts andtrial balance to equal to each other but it seems like no matterwhat I do, I can't seem to get the t-accounts to equal to the trialbalance. Can anyone help me? Below is the problem. Thanks. During the first month of operations (April 20X1), MusicServices Corporation completed the following selectedtransactions: a. The bus. received cash of $25,000 and a building valued at$50,000. The corporation issued common stock to thestockholders. b. Borrowed $50,000 from the bank; signed a notepayable. c. Paid $60,000 for music equipment. d. Purchased supplies on accont, $1,000. e. Paid employees' salaries, $1,300. f. Received $500 for service performed for customers. g. Performed service for customers on account,$1,800. h. Paid $600 of the account payable created in Transactiond. i. Received a $500 bill for utility expense that will be paidin the near future. j. Received cah on account, $1,100. k. Paid the following cash expenses: (1) rent, $1,000; (2)advertising, $800. Record the foregoing transactions directly in the T-accounts(using the letters to identify the transactions) and prepare thetrial balance of Music Services Corp. at April 30, 20X1. For three days now I've been trying to get my t-accounts andtrial balance to equal to each other but it seems like no matterwhat I do, I can't seem to get the t-accounts to equal to the trialbalance. Can anyone help me? Below is the problem. Thanks. During the first month of operations (April 20X1), MusicServices Corporation completed the following selectedtransactions: a. The bus. received cash of $25,000 and a building valued at$50,000. The corporation issued common stock to thestockholders. b. Borrowed $50,000 from the bank; signed a notepayable. c. Paid $60,000 for music equipment. d. Purchased supplies on accont, $1,000. e. Paid employees' salaries, $1,300. f. Received $500 for service performed for customers. g. Performed service for customers on account,$1,800. h. Paid $600 of the account payable created in Transactiond. i. Received a $500 bill for utility expense that will be paidin the near future. j. Received cah on account, $1,100. k. Paid the following cash expenses: (1) rent, $1,000; (2)advertising, $800. Record the foregoing transactions directly in the T-accounts(using the letters to identify the transactions) and prepare thetrial balance of Music Services Corp. at April 30, 20X1.Explanation / Answer
x.
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.