Problem:
Journalizing transactions, posting to T-accounts, and preparing a trial balance
Doris Stewart started her practice as a design consultant on September 1, 2012. During the first month of operations, the business completed the following transactions:
Sep 1
Received $42,000 cash and gave capital to Stewart.
Sep 4
Purchased supplies, $700, and furniture, $1,900, on account.
Sep 6
Performed services for a law firm and received $1,400 cash.
Sep 7
Paid $24,000 cash to acquire land for a future office site.
Sep 10
Performed service for a hotel and received its promise to pay the $1,000 within one week.
Sep 14
Paid for the furniture purchased September 4 on account.
Sep 15
Paid secretary's bi-monthly salary, $490.
Sep 17
Received cash on account, $400.
Sep 20
Prepared a design for a school on account, $700.
Sep 28
Received $2,100 cash for consulting with Plummer & Gorden.
Sep 30
Paid secretary's bi-monthly salary, $490.
Sep 30
Paid rent expense, $650.
Sep 30
Stewart withdrew cash of $3,000.