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-   -   Preparing for T-Accounts and a Trial balance? (https://www.askmehelpdesk.com/showthread.php?t=338152)

  • Apr 5, 2009, 12:29 PM
    beandip24
    Preparing for T-Accounts and a Trial balance?
    Preparing T-accounts
    And a trial balance
    C3 P2
    Use the information in Exercise 2-4 to prepare an August 31 trial balance for Pose-for-Pics. Open
    These T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; H. Paris,
    Capital; Photography Fees Earned; and Utilities Expense. Post the general journal entries to these
    T-accounts (which will serve as the ledger), and prepare a trial balance.

    Which in exercise 2-4 is
    Exercise 2-4
    Preparing general journal
    Entries
    A1 P1
    Prepare general journal entries for the following transactions of a new business called Pose for Pics.
    Aug. 1 Hashim Paris, the owner, invested $7,500 cash and $32,500 of photography equipment in
    The business.
    1 Paid $3,000 cash for an insurance policy covering the next 24 months.
    5 Purchased office supplies for $1,400 cash.
    20 Received $2,650 cash in photography fees earned.
    31 Paid $875 cash for August utilities.
  • Apr 5, 2009, 02:26 PM
    pready

    What's the question. You do not expect us to do your work for you, do you? Do your work first, then if you have a question we will try to help you.

    Your first step is to set up your T-accounts.
    2nd step is to do journal entries.
    3rd step is to post journal entries to your T-Accounts.
    4th step is to get the ending balance in your T-accounts.
    5th step is to prepare a Trial Balance.

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