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

The transactions of Dexter Company: a. Macy Dexter, owner, invested $18,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $537 cash. c. The company purchased $10,231 of office equipment on credit. d. The company received $2,183 cash as fees for services provided to a customer. e. The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,922 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,647 cash as partial payment for the account receivable created in transaction f. i. The company paid $1,000 cash for dividends. Prepare general journal entries to record the transactions above: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

The transactions of Dexter Company:

 

a.	Macy Dexter, owner, invested $18,500 cash in the company in exchange for common stock.
b.	The company purchased office supplies for $537 cash.
c.	The company purchased $10,231 of office equipment on credit.
d.	The company received $2,183 cash as fees for services provided to a customer.
e.	The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c.
f.	The company billed a customer $3,922 as fees for services provided.
g.	The company paid $510 cash for the monthly rent.
h.	The company collected $1,647 cash as partial payment for the account receivable created in transaction f.
i.	The company paid $1,000 cash for dividends.

Prepare general journal entries to record the transactions above: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

Transaction	General Journal	Debit	Credit
a.	Cash	18,500
	Common stock		18,500
b.	Office supplies	537
	Cash		537
c.	Office equipment	10,231
	Accounts payable		10,231
d.	Cash	2,183
	Fees earned		2,183
e.	Accounts payable	10,231
	Cash		10,231
f.	Accounts receivable	3,922
	Fees earned		3,922
g.	Rent expense	510
	Cash		510
h.	Cash	1,647
	Accounts receivable		1,647
i.	Dividends	1,000
	Cash		1,000

Post the above journal entries to T-accounts, which serves as the general ledger for this assignment. Determine the ending balance of each T-account.

Following are the transactions of a new company called Pose for Pics. Aug. 1 Kasey Madison, the owner, invested $6,000 cash and $25,800 of photography equipment in the company in exchange for common stock. 2 The company paid $2,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,140 cash. 20 The company received $2,000 cash in photography fees earned. 31 The company paid $872 cash for August utilities. Prepare general journal entries for the above transactions.

Following are the transactions of a new company called Pose for Pics.

Aug. 1	Kasey Madison, the owner, invested $6,000 cash and $25,800 of photography equipment in the company in exchange for common stock.
2	The company paid $2,300 cash for an insurance policy covering the next 24 months.
5	The company purchased office supplies for $1,140 cash.
20	The company received $2,000 cash in photography fees earned.
31	The company paid $872 cash for August utilities.

Prepare general journal entries for the above transactions.