Question

NEED HELP WITH T-ACCOUNTS AND TRIAL BALANCE

Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital owned by R. Mead, a veterinarian Cash, Accounts Receivable, Supplies: Office Equipment Accounts Payable; Common Stock Dividends: Professional Fees Earned; Salaries Expense; and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the transaction. Finally, determine the balance in each account and prepare a trial balance as of December 31. Dec 1 Mead opened a checking account on December at United Bank in the name of Mead Pet Hospital and deposited cash Mead received common stock for investment 1000 2 Paid office rent for December 3 Purchased office equipment on account 1200 4 Purchased supplies for cash 2.000 5 Billed clients for services rendered 6 Paid secretary's salary 2250 7 Paid on account for equipment purchased on Dec 3 1 800 8 Collected from clients previously bled for services 6.100 9 The company paid stockholders a cash dividend. 2.500 1400 Accounting Template Journal Entries Accounts Trial Balance

Answer 1

1.

Cash
Beg, bal.			0
Dec 1	23,000
Dec 2		1,400
Dec 4		2,000
Dec 6		2,250
Dec 7		1,800
Dec 8	6,100
Dec 9		2,500
End. bal.			19,150 Dr.
Accounts Receivable
Beg. bal.	0
Dec 5	7,600
Dec 8		6,100
End. bal.			1,500 Dr.
Supplies
Beg. bal.			0
Dec 4	2,000
End. bal.			2,000 Dr.
Office Equipment
Beg. bal.			0
Dec 3	3,200
End. bal.			3,200 Dr.
Accounts Payable
Beg. bal			0
Dec 3		3,200
Dec 7	1,800
End. bal.			1,400 Cr.
Common Stock
Beg. bal.			0
Dec 1		23,000
End. bal.			23,000 Cr.
Dividends
Beg. bal.			0
Dec 9	2,500
End. bal.			2,500 Dr.
Professional Fees Earned
Beg. bal.			0
Dec 5		7,600
End. bal.			7,600 Cr.
Salaries Expense
Beg. bal.			0
Dec 6	2,250
End. bal.			2,250 Dr.
Rent Expense
Beg. bal.			0
Dec 2	1,400
End. bal.			1,400 Dr.

2.

Mead Pet Hospital Trial Balance December 31
	Debit	Credit
Cash	$ 19,150
Accounts Receivable	1,500
Supplies	2,000
Office Equipment	3,200
Accounts Payable		$ 1,400
Common Stock		23,000
Dividends	2,500
Professional Fees Earned		7,600
Salaries Expense	2,250
Rent Expense	1,400
Totals	$ 32,000	$ 32,000