question attached int h screenshot thanks for the helpappreciatedaefewgwegwgwegwgw Dec 2 Wortham Services received $70,000 cash and issued common stock to thestockholders.Purchased supplies, $700, and equipment, $11,400, on account.Performed services for a customer and received cash, $5,600.Paid cash to acquire land, $40,000.Dec 3Dec 4Dec 7Dec 11Dec 16Dec 17Performed services for a customer and billed the customer, $3,100. Worthamexpects to collect within one month.Paid for the equipment purchased December 3 on account.Paid for newspaper advertising. $570.Dec 18Dec 22Dec 29Dec 31Dec 31 Declared and paid dividends of $1,800.Received partial payment from customer on account, $1,000.Received and paid the water and electricity bills, $400.Received $2,900 cash for servicing the heating unit of a customer.Paid employee salaries, $2,600. During the first month of operations, Wortham Services, Inc., completed the following transactions:1(Click the icon to view the transaction data.)Read the requirements.Requirement 3. Prepare the trial balance of Wortham Services, Inc., at December 31 of the current year.Select the accounts that will appear in the trial balance. Then enter the account balances and total the debits and credits.Review the account balances prepared in a previous step.TotalWortham Services, Inc.Trial BalanceDecember 31AccountDebitCredit

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Description: question attached int h screenshot thanks for the helpappreciatedaefewgwegwgwegwgw Dec 2 Wortham Services received $70,000 cash and issued common stock to thestockholders.Purchased supplies, $700, and equipment, $11,400, on account.Performed services

Answered: Dec 2 Wortham Services received $70,000…

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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Dec 2 Wortham Services received $70,000 cash and issued common stock to the
stockholders.
Purchased supplies, $700, and equipment, $11,400, on account.
Performed services for a customer and received cash, $5,600.
Paid cash to acquire land, $40,000.
Dec 3
Dec 4
Dec 7
Dec 11
Dec 16
Dec 17
Performed services for a customer and billed the customer, $3,100. Wortham
expects to collect within one month.
Paid for the equipment purchased December 3 on account.
Paid for newspaper advertising. $570.
Dec 18
Dec 22
Dec 29
Dec 31
Dec 31 Declared and paid dividends of $1,800.
Received partial payment from customer on account, $1,000.
Received and paid the water and electricity bills, $400.
Received $2,900 cash for servicing the heating unit of a customer.
Paid employee salaries, $2,600.

During the first month of operations, Wortham Services, Inc., completed the following transactions:
1(Click the icon to view the transaction data.)
Read the requirements.
Requirement 3. Prepare the trial balance of Wortham Services, Inc., at December 31 of the current year.
Select the accounts that will appear in the trial balance. Then enter the account balances and total the debits and credits.
Review the account balances prepared in a previous step.
Total
Wortham Services, Inc.
Trial Balance
December 31
Account
Debit
Credit

Expert Solution

Explanation -

Journal Entries - Journal Entries are the recording of transactions of the organization. It is recorded as Debit and Credit. All the transactions are recorded using journals in the form of debit and credit.

Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and transfers those into the summarized form of trial balance.

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