Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance The trial balance of James Howe, CPA, is dated March 31, 2017:
During April, the business completed the following transactions:
Requirements
1. Record the April transactions in the journal using the following accounts: Cash; Accounts Receivable; Office Supplies; Furniture; Automobile; Land; Accounts Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; and Rent Expense. Include an explanation for each entry. 2. Open the four-column ledger accounts listed in the trial balance, together with their balances as of March 31. Use the following account numbers: Cash, 11; Accounts Receivable, 12; Office Supplies, 13; Furniture, 14; Automobile, 15; Land, 16; Accounts Payable, 21; Unearned Revenue, 22; Common Stock, 31; Dividends, 33; Service Revenue, 41; Salaries Expense, 51; and Rent Expense, 52.
3. Post the journal entries to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references. Assume the journal entries were recorded on page 5 of the journal. 4. Prepare the trial balance of James Howe, CPA, at April 30, 2017.