[tismarie]

My question is do I take the information from the September 30 trail balance and apply it to the October 30 trial balance that I need to create?


This is the trial balance of Slocombe Company on September 30.


SLOCOMBE COMPANY
Trial Balance
September 30, 2010

Debit Credit
Cash $8,300
Accounts Receivable 2,600
Supplies 2,100
Equipment 8,000
Accounts Payable $5,100
Unearned Revenue 900
Common Stock


15,000

$21,000

$21,000

The October transactions were as follows.

Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,400.
17 Performed $600 of services for customers who paid in advance in August.
20 Paid $1,500 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $500.

[pready]

You start with the account balances on Sep 30, next you need to journalize and post your transactions to get new account balances, finally you take the new account balances and prepare a trial balance for Oct 31.

[tismarie]

You start with the account balances on Sep 30, next you need to journalize and post your transactions to get new account balances, finally you take the new account balances and prepare a trial balance for Oct 31.

Thank you. I thought I was performing it wrong.