Construct the Trial Balance of the following transaction:Date/#Account TitleDebitCredita.Cash 250,000.00 Supplies 34,000.00 Jai, Capital 284,000.00 To record the investment of Jai b.Office Furniture 4,600.00 Cash 4,600.00 To record purchase of furniture c.Office Furniture 12,000.00 Cash 12,000.00 To record purchsae of furniture d.Utilities Expense 4,500.00 Accounts Payable 4,500.00 To record water expense e.Cash 23,000.00 Service Revenue 23,000.00 To record offering of service f.Accounts Receivable 34,000.00 Service Revenue 34,000.00 To record offering of service g.Accounts Payable 4,500.00 Cash 4,500.00 To record payment of payable h.Jai, Withdrawal 10,000.00 Cash 10,000.00 To record owner's withdrawal 376,600.00 376,600.00

Working Notes a) Calculation of Closing Blances…

Answered: Construct the Trial Balance of the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Construct the Trial Balance of the following transaction:

Date/#	Account Title	Debit	Credit
a.	Cash	250,000.00
	Supplies	34,000.00
	Jai, Capital		284,000.00
	To record the investment of Jai

b.	Office Furniture	4,600.00
	Cash		4,600.00
	To record purchase of furniture

c.	Office Furniture	12,000.00
	Cash		12,000.00
	To record purchsae of furniture

d.	Utilities Expense	4,500.00
	Accounts Payable		4,500.00
	To record water expense

e.	Cash	23,000.00
	Service Revenue		23,000.00
	To record offering of service

f.	Accounts Receivable	34,000.00
	Service Revenue		34,000.00
	To record offering of service

g.	Accounts Payable	4,500.00
	Cash		4,500.00
	To record payment of payable

h.	Jai, Withdrawal	10,000.00
	Cash		10,000.00
	To record owner's withdrawal
		376,600.00	376,600.00

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