Preparation of journal and posting the transactions to ledgers.
The trial balance of Stephanie Stouse, Registered Dietician, at October 31, 2007, follows.
|
Acct. #
|
Account Title
|
Debit
|
Credit
|
|
11
|
Cash
|
$3000
|
|
|
12
|
Accounts Receivable
|
8000
|
|
|
13
|
Supplies
|
600
|
|
|
14
|
Equipment
|
15000
|
|
|
21
|
Accounts Payable
|
|
$4600
|
|
31
|
Stephanie Stouse, Capital
|
|
22000
|
|
32
|
Stephanie Stouse, withdrawals
|
|
|
|
41
|
Service Revenue
|
|
|
|
51
|
Salary Expense
|
|
|
|
52
|
Rent Expense
|
|
|
|
|
Total
|
26600
|
26600
|
During November, Stouse completed the following transactions.
Nov 4 Collectec $6,000 cash from a client on account
7 Performed a nutritional analysis for a hospital on account, $5,700.
12 Used personal funds to pay for the renovation of private residence, $55,000
16 Purchase supplies on account, $800
19 Withdrew $2,100 for personal use
20 Paid on account $2,600
24 Received $1,900 cash for consulting with Kraft Foods
30 Paid rent $700
30 paid employee salary 2,000
Requirements:
Record the November transactions in a journal
Post the balances and the transactions to the ledger accounts ("T" accounts)
Prepare a trial balance of Stephanie Stouse, Registerd Dietician at November 30, 2007.
Part 2
Explain in an essay format of the above situation