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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
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
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education