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Transaction Analysis, Trial Balance, and Financial Statements Angela Mehl operates the Mehl Dance Studio. On June 1, the business's general ledger contained the following information: Cash $10,081 Accounts Receivable 12,614 Total $22,695 Accounts Payable $816 Notes Payable 5,100 Common Stock 13,379 Retained Earnings Total 3,400 $22,695 The following transactions occurred during the month of June: 1 Paid June rent for practice studio. 2 Paid June piano rental (Rent Expense). $1,659 153 3 Collected from students on account. 9,044 4 Borrowed and signed a promissory note payable due in 6 months for 2,550 5 Billed students for June instructional fees. 9,520 6 Paid interest for June on notes payable. 7 Paid for advertising ballet performances. 51 595 8 Paid costume rental (Rent Expense). 680 9 Collected admission fees from ballet performances given during the month. 3,570 10 Paid amount owed on account. 816 11 Received invoice for June utilities, to be paid in July. 476 12 Paid stockholders a cash dividend. 1,275 13 Used cash to purchase piano, to be used in business starting in July. 8,500 C Date June General Journal Description Post ref. Debit Credit (1) 0 0 0 0 To record payment of studio rent. To record payment of piano rent. To record cash collection from students. To record note payable. (2) 0 0 0 0 (3) 0 0 0 0 = (4) 0 0 0 0 (5) Oo 0 0 0 0 To record June billings. (6) 0 0 0 0 To record payment of interest. = (7) 0 0 0 0 To record payment for advertising. (8) 0 0 0 0 To record payment for costume rental. (9) 0 0 To record payment of interest. (7) 0 0 0 0 To record payment for advertising. To record payment for costume rental. (8) 0 0 0 0 (9) 0 0 0 0 To record receipts for admission fees. (10) 0 0 0 0 To record payment owed on account. (11) 0 0 0 0 To record June utilities invoice. (12) 0 0 0 0 To record cash dividend. To record purchase of a piano. (13) 0 0 0 0 Journal Entries T-Accounts Trial Balance Cash Accounts Receivable Piano Beg 0 0 Beg 0 0 (13) 0 0 (1) 0 0 (3) 0 0 Bal 0 0 (2) 0 0 (5) 0 0 (3) 0 0 Bal 0 0 Common Stock (4) 0 0 Beg 0 Bal 0 0 (6) 0 0 (7) 0 0 (8) 0 0 (9) 0 0 (10) 0 0 (12) 0 0 (13) 0 0 Bal 0 0 Accounts Payable Notes Payable Retained Earnings Beg 0 0 Beg 0 Beg 0 0 (10) 0 0 (4) Bal 0 0 (11) 0 Bal 0 0 Bal 0 0 Dividends (12) 0 0 Bal 0 (5) Bal Instructional Fees Earned 0 0 (9) Performance Revenue 0 Rent Expense 0 (1) 0 0 0 Bal 0 (2) 0 0 (8) 0 Bal 0 Utilities Expense (11) 0 0 Bal 0 0 Advertising Expense (7) 0 0 (6) Interest Expense 0 Bal 0 0 Bal 0 0 MEHL DANCE STUDIO Trial Balance June 30 Debit Credit Cash 0 0 Accounts Receivable 0 0 Piano 0 0 Accounts Payable 0 0 Notes Payable 0 0 Common Stock 0 0 Retained Earnings 0 0 Dividends 0 0 Instructional Fees Earned 0 0 Performance Revenue 0 0 Rent Expense 0 0 Utilities Expense 0 0 Advertising Expense 0 0 Interest Expense 0 0 Totals 0 0

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