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Q1) The trial balance of Stephanie Stouse, Registered Dietician, at October 31, 2007, follows.

 Acct. #  Account Title  Debit  Credit 
11 Cash  $3000  
12 Accounts Receivable  8000  
13 Supplies  600  
14 Equipment  15000  
21 Accounts Payable    $4600
31 Stephanie Stouse, Capital    22000
32 Stephanie Stouse, withdrawals     
41 Service Revenue     
51 Salary Expense     
52 Rent Expense     
  Total  26600 26600

In November, Stouse completed following transactions.

Nov 4 Collectec $6,000 cash from a client on account
7 Performed a nutritional analysis for a hospital on account, $5,700.
12 Used personal funds to pay for renovation of private residence, $55,000
16 Purchase supplies on account, $800
19 Withdrew $2,100 for personal use
20 Paid on account $2,600
24 Received $1,900 cash for consulting with Kraft Foods
30 Paid rent $700
30 paid employee salary 2,000


i) Record November transactions in journal
ii) Post balances and transactions to ledger accounts ("T" accounts)
iii) Create trial balance of Stephanie Stouse, Registerd Dietician at November 30, 2007.

Part 2

Describe in an essay format of the above situation

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920001

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