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Draper Consulting_Continuing Problem_Accounting transactions




Question;Draper Consulting completed;the following transactions during the first half of December, 2012;12;18;Dec 2;Received $18,000 cash and gave capital to Draper.;2 Paid monthly office rent, $550.;3 Paid cash for a Dell computer;$1,800. This equipment is expected to remain in service for five years.;4;Purchased office furniture on account, $4,200. The furniture should last for;five years.;5;Purchased supplies on account, $900.;9;Performed consulting service for a client on account, $1,500.;12;Paid utility expenses, $250.;18;Performed service for a client and received cash of $1,100.;1.;Open T-accounts: Cash, Accounts receivable, Supplies, Equipment, Furniture;Accounts;payable, Draper, capital, Draper, drawing, Service revenue, Rent;expense;and Utilities expense.;2.;Journalize the transactions. Explanations are not required.;3.;Post to the T-accounts. Key all items by date, and denote an account balance as;Bal.;Formal posting references are not required.;4.;Prepare a trial balance at December 18. In the Continuing Problem of Chapter 3;we;will add transactions for the remainder of December and prepare a trial balance;at;December 31.


Paper#37346 | Written in 18-Jul-2015

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