Question

Epler Consulting Services, Inc., opened for business on January 25, 2015. The company maintains .
the following ledger accounts:
Cash
Capital Stock
Accounts Receivable Retained Earnings
Office Supplies
Consulting Revenue
Office Equipment
Rent Expense
* Accounts Payable
Utilities Expense
The company engaged in the following business activity in January:
Jan. 20 Issued 5,000 shares of capital stock for $50,000.
Jan, 20 Paid $400 office rent for the remainder of January.
Jan. 21 Purchased office supplies for $200. The supplies will last for several months,
and payment is not due until February 15.
Jan. 22 Purchased office equipment for $15,000 cash.
Jan. 26 Performed consulting services and billed clients $2,000. The entire amount
will not be collected until February.
Jan. 31 Recorded $100 utilities expense. Payment is not due until February 20.
Instructions
a. Record each of the above transactions in general journal form.
b. Post each entry to the appropriate ledger accounts.
c. Prepare a trial balance dated January 31, 2015.
d. Explain why the Retained Earnings account has a zero balance in the trial balance.

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Answer 1

Answer:

trial balance dated January 31 2013 activation by