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ACCT - Draper Consulting

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Question;Draper Consulting completed the following transactions during the first half ofDecember, 2012:1218Dec 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, Rentexpense, 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 asBal. 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 balanceat December 31.

 

Paper#43809 | Written in 18-Jul-2015

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