Response to the following problem:
Instructions
1. Journalize each transaction in a two-column journal, referring to the following chart of accounts in selecting the accounts to be debited and credited.
Cash .................................Capital Stock
Accounts Receivable ..............Dividends
Supplies .............................Fees Earned
Prepaid Insurance .................Wages Expense
Equipment .........................Rent Expense
Truck ................................Utilities Expense
Notes Payable .....................Truck Expense
Accounts Payable ..................Miscellaneous Expense
2. Post the journal to a ledger of T accounts. For accounts with more than one posting, determine the account balance.
3. Prepare a trial balance for Devon Designs as of November 30, 2006.