(L. OBJ. 2, 3, 4, 5) Analyzing and journalizing transactions, posting, and preparing a trial balance [45-60 min]
Warren Smith practices medicine tinder the business title Warren Smith, M.D. During April, the medical practice completed the following transactions:
The business uses the following accounts: Cash; Accounts receivable; Supplies; Land; Accounts payable; Notes payable; Warren Smith, Capital; Warren Smith, Withdrawals; Service revenue; Salary expense; Rent expense; Utilities expense.
Requirements
1. Journalize each transaction, as shown for April 1. Explanations are not required.
2. Post the transactions to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal, as shown in the chapter.
3. Prepare the trial balance of Warren Smith, M.D., at April 30, 2010.
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