Acc557 Financial Accounting: E2-9 Selected transactions from the journal of Kati Tillman

Acc557 Financial Accounting

E2-9
Selected transactions from the journal of Kati Tillman, investment broker, are presented below.
Date Account Title and Explanation Ref Debit Credit
1 Aug Cash 6,000
     Common Stock 6,000 
Investment of cash for stock

 10 Aug Cash 2,700
     Service Revenue 2,700 
Received cash for services performed

12 Aug Equipment 5,000
     Cash 800 
     Notes Payable 4,200 
Purchased office equipment for cash and notes payable

 25 Aug Accounts receivable 1,600
     Service revenue 1,600 
Billed clients for services performed.

31 Aug Cash 880
     Accounts receivable 880 
Receipt of cash on account.

Instructions
1. Post the transactions to T-accounts.
2. Prepare a trial balance at August 31, 2015.
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