(a)Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.CashAccounts ReceivableSuppliesEquipmentAccounts PayableUnearned Service RevenueCommon StockRetained Earnings View PoliciesCurrent Attempt in ProgressThis is the trial balance of Blossom Company on September 30.BLOSSOM COMPANYTrial BalanceSeptember 30, 2017DebitCreditCash$ 23,240Accounts Receivable6,640Supplies5,020Equipment10,920Accounts Payable$8,840Unearned Service4,020RevenueCommon Stock19,040Retained Earnings13,920$45,820$45,820The October transactions were as follows.Oct. 5Received $1,470 in cash from customers for accounts receivable due.Billed customers for services performed $5,020.Paid employee salaries $1,380.Performed $560 of services in exchange for cash.Paid $1,800 to creditors for accounts payable due.1015172029Paid a $340 cash dividend.31Paid utilities $440.

Required general ledger accounts with opening balances are shown below:

Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings

Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1. Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings

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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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

(a)
Prepare a general ledger using T-accounts. Enter the opening balances in the ledger accounts as of October 1.
Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
Unearned Service Revenue
Common Stock
Retained Earnings

View Policies
Current Attempt in Progress
This is the trial balance of Blossom Company on September 30.
BLOSSOM COMPANY
Trial Balance
September 30, 2017
Debit
Credit
Cash
$ 23,240
Accounts Receivable
6,640
Supplies
5,020
Equipment
10,920
Accounts Payable
$8,840
Unearned Service
4,020
Revenue
Common Stock
19,040
Retained Earnings
13,920
$45,820
$45,820
The October transactions were as follows.
Oct. 5
Received $1,470 in cash from customers for accounts receivable due.
Billed customers for services performed $5,020.
Paid employee salaries $1,380.
Performed $560 of services in exchange for cash.
Paid $1,800 to creditors for accounts payable due.
10
15
17
20
29
Paid a $340 cash dividend.
31
Paid utilities $440.

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