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Unformatted text preview: (7) Provided services to customers on account, $10,000. (8) Incurred wages expense of $3,000, to be paid in the future. (9) Collected $4,000 on an outstanding account receivable. (10) Declared and paid dividend of $6,000. (a) Prepare T-accounts for the above transactions. (b) Prepare the resulting trial balance. (c) Prepare the income statement, statement of retained earnings, and balance sheet that results from these 10 transactions. (d) Comment on the value of an information processing system. Would T-accounts provide a sufficient data processing system?...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11