Acc290 Financial Accounting: P3-6A This is the trial balance of Mimosa Company

ACC 290 Financial Accounting
Week 2 Assignment

P3-6A
This is the trial balance of Mimosa Company on September 30.
MIMOSA COMPANY
Trial Balance
September 30, 2012
Debit Credit
Cash 8,200
Accounts Receivable 2,600
Supplies 2,100
Equipment 8,000
Accounts Payable 4,800
Unearned Service Revenue 1,100
Common Stock 15,000
$20,900 $20,900

The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,200.
17 Performed $600 of services for customers who paid in advance in August.
20 Paid $1,900 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $400.

Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on October 31, 2012.
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