Question

The Moon Service Inc. engaged in the following transactions during the month of November 2015:
Nov. 01: started business with $300,000 cash and $100,000 was on the Bank account.
Nov. 03: Paid office rent for the month of November $500.
Nov. 06: Purchased office supplies $250 drawing a cheque to the supplier.
Nov. 12: Purchased office equipment on credit $4,500
Nov. 16: Purchased business Motor Van for $25,000. Paid $10,000 cash, $10,000 cheque and issued a note for the balance.
Nov. 21: Sold goods $24,000 on account.
Nov. 25: Paid dividends $3,000.
Nov. 28: Paid utility bills for the month of November $180.
Nov. 29: Received $20,000 cash from clients billed on November 21.
Nov. 30: Paid salary for the month of November $7,500
Required:
(a) Record the above transactions in a General Journal
(b) Provide ledger accounts with a running balance (but not T-accounts) for the above transactions,
(c) Construct a Trial balance to check for arithmetic and double entry errors.

Answer 1

Answer:

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