Post the transactions to the ledger in chronological order and complete the Adjusted Trial Balance....
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Accounting
Post the transactions to the ledger in chronological order and complete the Adjusted Trial Balance.
Transactions Dec. 1 Issued common stock for $22,100 cash.
2 Billed clients for $11,700 of work performed.
3 Received payment of $8,700 in advance for work to be performed.
5 Paid rent in advance of $10,700 to cover December through March rent.
10 Bought furniture, paying $3,200 cash and $4,700 notes payable.
15 Received $7,300 from accounts receivable.
15 Incurred salaries expense of $17,800.
16 Paid $410 toward their Accounts Payable.
31 Made an adjustment for revenue of $8,700 that was prepaid and had been earned.
31 Adjusted for rent expired during December. 31
Adjusted for depreciation on furniture, $390. 31
Paid salaries payable and incurred another $17,800 of salaries expense.
Post the liability first. 31
Paid $3,400 in Dividends.
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