Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balanceBeth Stewart started her practice as a design consultant on November 1, 2018. During the first month of operations, the business completed the following transactions:RequirementsRecord each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Furniture; Accounts Payable; Utilities Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required.Open a T-account for each of the accounts.Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each accountPrepare the trial balance of Beth Stewart, Designer, as of November 30, 2018. Nov. 1Received $41,000 cash and issued common stock to Stewart.4Purchased office supplies, $1,200, and furniture, $2,300, on account.Performed services for a law firm and received $2,100 cash.Paid $27,000 cash to acquire land to be used in operations.Performed services for a hotel and received its promise to pay the $800within one week.1014Paid for the furniture purchased on November 4 on account.15Paid assistant's semimonthly salary, $1,470.17Received cash on account, $500.20Prepared a design for a school on account, $680.25Received $1,900 cash for design services to be performed in December.28Received $3,100 cash for consulting with Plummer & Gordon.29Paid $840 cash for a 12-month insurance policy starting on December 1.30Paid assistant's semimonthly salary, $1,470.30Paid monthly rent expense, $650.30Received a bill for utilities, $650. The bill will be paid next month.30Paid cash dividends of $2,800.

Hey, since there are multiple sub-parts posted, we will answer only three requirement (as per our…

Nov. 1 Received $41,000 cash and issued common stock to Stewart. 4 Purchased office supplies, $1,200, and furniture, $2,300, on account. Performed services for a law firm and received $2,100 cash. Paid $27,000 cash to acquire land to be used in operations. Performed services for a hotel and received its promise to pay the $800 within one week. 10 14 Paid for the furniture purchased on November 4 on account. 15 Paid assistant's semimonthly salary, $1,470. 17 Received cash on account, $500. 20 Prepared a design for a school on account, $680. 25 Received $1,900 cash for design services to be performed in December. 28 Received $3,100 cash for consulting with Plummer & Gordon. 29 Paid $840 cash for a 12-month insurance policy starting on December 1. 30 Paid assistant's semimonthly salary, $1,470. 30 Paid monthly rent expense, $650. 30 Received a bill for utilities, $650. The bill will be paid next month. 30 Paid cash dividends of $2,800.

Nov. 1 Received $41,000 cash and issued common stock to Stewart. 4 Purchased office supplies, $1,200, and furniture, $2,300, on account. Performed services for a law firm and received $2,100 cash. Paid $27,000 cash to acquire land to be used in operations. Performed services for a hotel and received its promise to pay the $800 within one week. 10 14 Paid for the furniture purchased on November 4 on account. 15 Paid assistant's semimonthly salary, $1,470. 17 Received cash on account, $500. 20 Prepared a design for a school on account, $680. 25 Received $1,900 cash for design services to be performed in December. 28 Received $3,100 cash for consulting with Plummer & Gordon. 29 Paid $840 cash for a 12-month insurance policy starting on December 1. 30 Paid assistant's semimonthly salary, $1,470. 30 Paid monthly rent expense, $650. 30 Received a bill for utilities, $650. The bill will be paid next month. 30 Paid cash dividends of $2,800.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 48BE: Collection of Amounts Previously Written Off Hannah purchased a laptop computer from Perry Corp. for...

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