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

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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