Question

On October 1, 2020, Ballister Dorth organized a computer service company called Ballister Systems Balister is organized as a sole proprietorship and will provide consulting services, computer system installations, and custom program development. Dorth has adopted the calendar year or reporting, and expects to prepare the company's first set of financial statements as of December 31, 2020. The initial chart of accounts for the accounting system includes these items: Account Number 101 Account Number 301 106 126 128 Account Name Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable 302 403 623 655 Account Name Ballister Dorth, Capital Ballister Dorth, Withdrawals Computer Services Revenue Wages Expense Advertising Expense Mileage Expense Repairs Expense, Computer Charitable Donations Expense 131 163 676 167 684 699 201 Part A Required 1. See attached for the chart of accounts provided. 2. Prepare journal entries to record each of the following October transactions. 3. Post the October entries. 4. Prepare a trial balance at October 31, 2020. 5. Prepare an income statement and a statement of changes in equity for the month ended October 31, 2020, as well as a balance sheet at October 31, 2020. Oct. 1 Ballister Dorth invested $40,000 cash, a used computer system valued at $4,080, and $13,020 of office equipment in the business. 2 Paid six months of rent in advance: $13,500. 3 Purchased computer supplies on credit for $3,745 from Staples Supplies. 5 Paid $12,240 cash for one year's premium on a property and liability insurance policy 6 Billed Stilton Manufacturing $7,050 for installing a new computer system and providing Stilton's employees with training 8 Paid for the computer supplies purchased from Staples Supplies 10 Hired Trish Duresh as a part-time assistant for $310 per day, as needed. 12 Billed Stilton Manufacturing another $1,345 for computer services rendered. 15 Received $2,500 from Stilton Manufacturing on its account. 17 Paid $980 to repair equipment damaged when moving into the new office. 20 Paid $1,330 for an advertisement in the local newspaper. 22 Received the balance owing from Stilton Manufacturing on its account. 28 Billed Maritime Inc. $10,340 for services. 31 Paid Trish Duresh for 15 days' work. 31 Ballister Dorth withdrew $2,500 cash from the business for personal use.

Please help complete part C, thank you!

Answer 1

Answer to Q.10

1. Decmeber 3, Cash Account Dr

To Mall A/c