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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Carla Quentin started her own consulting firm, Quentin Consulting, on May 1, 2020. The following transactions occurred during the month of May.
May 1 Carla invested Tk. 7,000 cash in the business.
2 Paid Tk. 900 for office rent for the month.
3 Purchased Tk. 600 of supplies on account.
5 Paid Tk. 125 to advertise in the County News.
9 Received Tk. 4,000 cash for services provided.
12 Withdrew Tk. 1,000 cash for personal use.
15 Performed Tk. 5,400 of services on account.
17 Paid Tk. 2,500 for employee salaries.
20 Paid for the supplies purchased on account on May 3.
23 Received a cash payment of Tk. 4,000 for services provided on account on May 15. 26 Borrowed Tk. 5,000 from the bank on a note payable.
29 Purchased office equipment for Tk. 4,200 on account.
30 Paid Tk. 275 for utilities.
Instruction:
a) Journalize the transactions.
b) Post to the ledger accounts.
c) Prepare a trial balance .
Expert Solution
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