View the step-by-step solution to:

Accounting 211 Lesson 2 Activity: Transactional Analysis Problem Scenario: Use following scenario and transactions to complete the activities below....

This question was answered on Jan 20, 2013. View the Answer
I have to set up a trial balance and t-accounts and I'm not sure how to complete that for the document attached
Accounting 211 Lesson 2 Activity: Transactional Analysis Problem Scenario: Use following scenario and transactions to complete the activities below. On January 4, Mary Markham, an attorney, opened her private law firm…Markham Law (ML). The following transactions were completed during the month. a) Mary invested $30,000 cash and $15,000 of office equipment in the business in exchange for capital stock. b) ML paid a month’s rent of $1800 c) ML paid $1200 for office supplies d) ML collected $20,000 of legal fees for services performed e) ML paid a secretary salary of $2200 f) ML purchased $500 of supplies on account g) ML bought an auto for business use. It cost $15,000. ML paid $4000 down and charged the balance. h) ML paid $4000 of dividends i) ML paid $900 for auto maintenance and repairs j) ML received a telephone bill for $300 k) ML paid the telephone bill l) ML paid premiums of $1200 for one year insurance m) ML paid $2500 for a computer n) ML paid $700 for a cleaning service o) ML received $5000 on retainer from MOB INC Activities: Using the scenario and transactions above, complete the following activities. Submit all files to the dropbox. 1. Record the transactions in T accounts. 2. Prepare a trial balance for the end of the month.
Background image of page 1
Sign up to view the entire interaction

Top Answer

Hi Enclosed please find the solution... View the full answer

8422154_Solution.xlsx

Cash DATE Jan a b c d e g h i k l m n 0 ITEM POST REF DEBIT $15,000 $20,000 CREDIT BALANCE
TRIAL BALANCE Cash Mary' s Capital Rent Expense Office Supplies Service revenue Salary Expense Accounts...

This question was asked on Jan 20, 2013 and answered on Jan 20, 2013.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards