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

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

Requirements:

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