P3-6A This is the trial balance of Mimosa Company on September 30.

This is the trial balance of Mimosa Company on September 30.

 

                Debit             Credit

 

Cash             8200

 

Accounts Receivable  2600

Supplies        2100

Equipment       8000

Accounts Payable        4800

Unearned Service Revenue     1100

Common Stock                    15000

                           20900             20900

 

The October transactions were as follows.

 

Oct. 5   Received $1,300 in cash from customers for accounts receivable due.

Oct 10  Billed customers for services performed $5,100.

Oct 15  Paid employee salaries $1,200.

Oct 17  Performed $600 of services for customers who paid in advance in August

Oct 20  Paid $1,900 to creditors for accounts payable due.

Oct 29  Paid a $300 cash dividend.

Oct 31  Paid utilities $400.

  

Instructions

 

(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger

accounts as of October 1. Provision should be made for these additional accounts:

Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.

 

(b) Journalize the transactions, including explanations.

 

(c) Post to the ledger accounts.

 

(d) Prepare a trial balance on October 31, 2012.