Question E2.11 (LO 3, 4), AP Selected transactions from the journal of Kati Tillman, investment broker, are presented as follows. Date Account Titles and Explanation Ref. Debit Credit Aug. 1 Cash 6,000 Common Stock 6,000 (Issued common stock for cash) 10 Cash 2,700 Service Revenue 2,700 (Received cash for services performed) 12 Equipment 5,000 Cash 80 Notes Payable 4,200 (Purchased office equipment for cash and notes payable) 25 Account Receivable 1,600 Service Revenue 1,600 (Billed clients for services performed) 31 Cash 880 Accounts Receivable 880 (Receipt of cash on account) Instructions a. Post the transactions to T-accounts. b. Prepare a trial balance at August 31, 2022. Answer а. Cash Accounts Receivable Equipment Notes Payable Common Stock Service Revenue b. Kati Tillman Trial Balance August 31, 2022 Account Debit Credit Totale
Question E2.11 (LO 3, 4), AP Selected transactions from the journal of Kati Tillman, investment broker, are presented as follows. Date Account Titles and Explanation Ref. Debit Credit Aug. 1 Cash 6,000 Common Stock 6,000 (Issued common stock for cash) 10 Cash 2,700 Service Revenue 2,700 (Received cash for services performed) 12 Equipment 5,000 Cash 80 Notes Payable 4,200 (Purchased office equipment for cash and notes payable) 25 Account Receivable 1,600 Service Revenue 1,600 (Billed clients for services performed) 31 Cash 880 Accounts Receivable 880 (Receipt of cash on account) Instructions a. Post the transactions to T-accounts. b. Prepare a trial balance at August 31, 2022. Answer а. Cash Accounts Receivable Equipment Notes Payable Common Stock Service Revenue b. Kati Tillman Trial Balance August 31, 2022 Account Debit Credit Totale
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question
E2.11 (LO 3, 4), AP Selected transactions from the journal of Kati Tillman, investment broker,
are presented as follows.
Date
Account Titles and Explanation
Ref.
Debit
Credit
Aug. 1
Cash
6,000
Common Stock
6,000
(Issued common stock for cash)
10
Cash
2,700
Service Revenue
2,700
(Received cash for services performed)
12
Equipment
5,000
Cash
800
Notes Payable
4,200
(Purchased office equipment for cash and
notes payable)
25
Account Receivable
1,600
Service Revenue
1,600
(Billed clients for services performed)
31
Cash
880
Accounts Receivable
880
(Receipt of cash on account)
Instructions
a. Post the transactions to T-accounts.
b. Prepare a trial balance at August 31, 2022.
Answer
Cash
Accounts Receivable
Equipment
a.
Notes Payable
Common Stock
Service Revenue
b.
Kati Tillman
Trial Balance
August 31, 2022
Account
Debit
Credit
Totals](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcdccc05c-d411-4be3-87c1-38b5cde54476%2Fb33dc6e4-b2ec-4621-9445-96f67d7c711b%2Fx72oo4o_processed.png&w=3840&q=75)
Transcribed Image Text:Question
E2.11 (LO 3, 4), AP Selected transactions from the journal of Kati Tillman, investment broker,
are presented as follows.
Date
Account Titles and Explanation
Ref.
Debit
Credit
Aug. 1
Cash
6,000
Common Stock
6,000
(Issued common stock for cash)
10
Cash
2,700
Service Revenue
2,700
(Received cash for services performed)
12
Equipment
5,000
Cash
800
Notes Payable
4,200
(Purchased office equipment for cash and
notes payable)
25
Account Receivable
1,600
Service Revenue
1,600
(Billed clients for services performed)
31
Cash
880
Accounts Receivable
880
(Receipt of cash on account)
Instructions
a. Post the transactions to T-accounts.
b. Prepare a trial balance at August 31, 2022.
Answer
Cash
Accounts Receivable
Equipment
a.
Notes Payable
Common Stock
Service Revenue
b.
Kati Tillman
Trial Balance
August 31, 2022
Account
Debit
Credit
Totals
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