The transactions of Dexter Company: a. Macy Dexter, owner, invested $10,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $305 cash. c. The company purchased $5,807 of office equipment on credit. d. The company received $1,239 cash as fees for services provided to a customer. e. The company paid $5,807 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,226 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $935 cash as partial payment for the account receivable created in transaction f. i. The company paid $1,000 cash for dividends. Prepare the Trial Balance. Use May 31, 2011, as its report date.

The transactions of Dexter Company:

a.	Macy Dexter, owner, invested $10,500 cash in the company in exchange for common stock.
b.	The company purchased office supplies for $305 cash.
c.	The company purchased $5,807 of office equipment on credit.
d.	The company received $1,239 cash as fees for services provided to a customer.
e.	The company paid $5,807 cash to settle the payable for the office equipment purchased in transaction c.
f.	The company billed a customer $2,226 as fees for services provided.
g.	The company paid $510 cash for the monthly rent.
h.	The company collected $935 cash as partial payment for the account receivable created in transaction f.
i.	The company paid $1,000 cash for dividends.

   

Prepare the Trial Balance. Use May 31, 2011, as its report date.

Explanation:

Cash

a.	10,500		b.	305
d.	1,239		e.	5,807
h.	935		g.	510
			i.	1,000
Balance	5,052

   

Accounts Receivable

f.	2,226		h.	935
Balance	1,291

  

Office Supplies

b.	305
Balance	305

  

Office Equipment

c.	5,807
Balance	5,807

   

Accounts Payable

e.	5,807		c.	5,807
			Balance	0

   

Common Stock

			a.	10,500
			Balance	10,500

      

Dividends

i.	1,000
Balance	1,000

    

Fees Earned

			d.	1,239
			f.	2,226
			Balance	3,465

  

Rent Expense

g.	510
Balance	510