Dec 2 Wortham Services received $70,000 cash and issued common stock to the stockholders. Purchased supplies, $700, and equipment, $11,400, on account. Dec 3 Dec 4 Dec 7 Dec 11 Dec 16 Dec 17 Dec 18 Dec 22 Performed services for a customer and received cash, $5,000. Paid cash to acquire land, $40,000. Performed services for a customer and billed the customer, $3,100. Wortham expects to collect within one month. Paid for the equipment purchased December 3 on account. Paid for newspaper advertising, $570. Received partial payment from customer on account, $1,000. Received and paid the water and electricity bills, $400. Dec 29 Dec 31 Dec 31 Declared and paid dividends of $1,800. Received $2,000 cash for servicing the heating unit of a customer. Paid employee salaries, $2,600.
Dec 2 Wortham Services received $70,000 cash and issued common stock to the stockholders. Purchased supplies, $700, and equipment, $11,400, on account. Dec 3 Dec 4 Dec 7 Dec 11 Dec 16 Dec 17 Dec 18 Dec 22 Performed services for a customer and received cash, $5,000. Paid cash to acquire land, $40,000. Performed services for a customer and billed the customer, $3,100. Wortham expects to collect within one month. Paid for the equipment purchased December 3 on account. Paid for newspaper advertising, $570. Received partial payment from customer on account, $1,000. Received and paid the water and electricity bills, $400. Dec 29 Dec 31 Dec 31 Declared and paid dividends of $1,800. Received $2,000 cash for servicing the heating unit of a customer. Paid employee salaries, $2,600.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 18EB: Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received...
Related questions
Topic Video
Question
question attached int h screenshot
thanks for the help
appreciated
aefewgwegwg
wegwgw
Transcribed Image Text:Dec 2 Wortham Services received $70,000 cash and issued common stock to the
stockholders.
Purchased supplies, $700, and equipment, $11,400, on account.
Performed services for a customer and received cash, $5,600.
Paid cash to acquire land, $40,000.
Dec 3
Dec 4
Dec 7
Dec 11
Dec 16
Dec 17
Performed services for a customer and billed the customer, $3,100. Wortham
expects to collect within one month.
Paid for the equipment purchased December 3 on account.
Paid for newspaper advertising. $570.
Dec 18
Dec 22
Dec 29
Dec 31
Dec 31 Declared and paid dividends of $1,800.
Received partial payment from customer on account, $1,000.
Received and paid the water and electricity bills, $400.
Received $2,900 cash for servicing the heating unit of a customer.
Paid employee salaries, $2,600.
Transcribed Image Text:During the first month of operations, Wortham Services, Inc., completed the following transactions:
1(Click the icon to view the transaction data.)
Read the requirements.
Requirement 3. Prepare the trial balance of Wortham Services, Inc., at December 31 of the current year.
Select the accounts that will appear in the trial balance. Then enter the account balances and total the debits and credits.
Review the account balances prepared in a previous step.
Total
Wortham Services, Inc.
Trial Balance
December 31
Account
Debit
Credit
Expert Solution
Explanation -
Journal Entries - Journal Entries are the recording of transactions of the organization. It is recorded as Debit and Credit. All the transactions are recorded using journals in the form of debit and credit.
Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and transfers those into the summarized form of trial balance.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning