Johnny Jones is a consulting business that started this August. It has a monthly accounting cycle. Recall that the accounting cycle includes the 9 steps that repeat every month (or every year). Johnny Jones has completed its accounting cycle in August with Post-Closing Trial Balance on August 31 (Hint: review the Module 1 Part 1 class lecture to refresh your memory of these numbers). Now it is time for Johnny Jones to continue its accounting cycle in September by repeating the 9 steps.[1]
Johnny Jones |
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Post-Closing Trial Balance |
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August 31 |
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Debit |
Credit |
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Cash |
$38,200 |
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Accounts Receivable |
9,800 |
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Supplies |
260 |
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Unearned Revenue |
$12,500 |
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Utilities Payable |
900 |
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Common Stock |
20,000 |
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Retained Earnings |
14,860 |
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Totals |
$48,260 |
$48,260 |
.Continuing its business into September, Johnny Jones completed the following transactions:
Analyze the above transactions, record the above transactions, post the above transactions and prepare the unadjusted trial balance as of 9/30
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