(L. OBJ. 2, 3, 4, 5) Journalizing transactions, posting to accounts in four-column forma...

(L. OBJ. 2, 3, 4, 5) Journalizing transactions, posting to accounts in four-column format, and preparing a trial balance [45—60 min]

The trial balance of Shelley Summers, Registered Dietician, at December 31, 2010, follows.

During January, Summers or her business completed the following transactions:

Requirements

1. Record the January transactions in the business’s journal. Include an explanation for each entry.

2. Post the transactions to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references.

3. Prepare the trial balance of Shelley Summers, Registered Dietician, at January 31, 2011.