Chapter 2, Problem E2.24E

Journalizing transactions, posting journal entries to four-column accounts, and
preparing a trial balance
Learning Objectives 3, 4
3. Total Debits $24,670
The following transactions occurred during the month for Teresa Parker, CPA:

Jun. 1	Parker opened an accounting firm by contributing $13,200 cash and office furniture with a fair market value of $5,300 in exchange for capital.
5	Paid monthly rent of $1,300.
9	Purchased office supplies on ccount, $600.
14	Paid employees salary, $1,900.
18	Received a bill for utilities to be paid next month, $370.
21	Paid $500 of the accounts payable created on June 9.
25	Performed accounting services on account, $5,700.
28	Parker withdrew cash of $6,700.

Requirements
1. Open the foIlowing four-column accounts of Teresa Parker, CPA: Cash, 110; Accounts Receivable, 120; Office Sipplies, 130; Office Furniture, 140; Accounts Payable 210; Utilites Payable, 220; Parker, Capital, 310; Parker, Withdrawals 320; Servie Revenue, 410; Salaries Expense, 510; Rent Expense, 520; and Utilities Expense, 530.
2. Journalize the transactions, and then post the journal entries to the four-column accounts. Explanations are not required for the journal entries. Keep a running balance in each account. Assume the journal entries are recorded on page 10 the Journal.
3. Prepare the trial balance as of June 30, 2018.