journalizing transactions posting to t accounts and preparing a trial balance proble 538351

Journalizing transactions, posting to T-accounts, and preparing a trial balance Problem 2-62 continues with the consulting business of Carl Draper, begun in Problem 1-48. Here you will account for Draper Consulting”s transactions as it is actually done in practice.

P2-62 Draper Consulting completed the following transactions during the first half of December, 2012:

Requirements

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.