Chapter 2, Problem 2.5AP

To determine

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Standard form of account: It is the format of account, representing a ledger account enumerating all the debit and credit transactions in one place and showing the debit and credit amounts separately.

Trial Balance: It is prepared at the end of an accounting period listing all the ledgers and their balances. The total of the debit balances in the trial balance shall be equal to the total of the credit balances. It is prepared to check whether there is any mathematical error in the accounts.

To Prepare: (a) Ledger accounts and post the opening balances (b) Journal entries for the April transactions, (c) ledger accounts and (d) the trial balance as on April 30, 2015.