The trial balance of Steve Mentz CPA is dated March #345

The trial balance of Steve Mentz, CPA, is dated March 31, 2017:During April, the business
completed the following transactions:Apr. 4 Collected $1,000 cash from a client on account.8
Performed tax services for a client on account, $5,800.13 Paid $1,500 on account.14
Purchased furniture on account, $4,600.15 Mentz contributed his personal automobile to the
business in exchange for common stock. The automobile had a market value of $8,000.18
Purchased office supplies on account, $500.19 Received $2,900 for tax services performed on
April 8.20 Paid cash dividends of $8,000.21 Received $5,400 cash for consulting work
completed.24 Received $1,200 cash for accounting services to be completed next month.27
Paid office rent, $700.28 Paid employee salary, $1,600.Requirements1. Record the April
transactions in the journal. Use the following accounts: Cash; Accounts Receivable; Office
Supplies; Furniture; Automobile; Land; Accounts Payable; Unearned Revenue; Common Stock;
Dividends; Service Revenue; Salaries Expense; and Rent Expense. Include an explanation for
each entry.2. Open the four-column ledger accounts listed in the trial balance, together with
their balances as of March 31. Use the following account numbers: Cash, 11; Accounts
Receivable, 12; Office Supplies, 13; Furniture, 14; Automobile, 15;Land, 16; Accounts Payable,
21; Unearned Revenue, 22; Common Stock, 31; Dividends, 33; Service Revenue, 41; Salaries
Expense, 51; and Rent Expense, 52.3. Post the journal entries to four-column accounts in the
ledger, using dates, account numbers, journal references, and posting references. Assume the
journal entries were recorded on page 5 of the journal.4. Prepare the trial balance of Steve
Mentz, CPA, at April 30, 2017.View Solution:
The trial balance of Steve Mentz CPA is dated March

ANSWER
http://paperinstant.com/downloads/the-trial-balance-of-steve-mentz-cpa-is-dated-march/

1/1
Powered by TCPDF (www.tcpdf.org)