Doris Stann started her practice as a design consultant on September 1, 2017

Doris Stann started her practice as a design consultant on September 1, 2017. During the first month of operations, the business completed the following transactions:

Sep 1 Received $47,000 cash and issued common stock to Stann.
       4 Purchased supplies, $700, and furniture, $1,600, on account.
       6 Performed services for a law firm and received $1,400 cash.
       7 Paid $20,000 cash to acquire land for a future office site.
      10 Performed service for a hotel and received its promise to pay the $900 within one week.
      14 Paid for the furniture purchased September 4 on account.
      15 Paid assistant's bi-monthly salary, $1,480.
      17 Received cash on account, $700.
      20 Prepared a design for a school on account, $700.

      25 Received $2,200 cash for design services to be performed in October.
      28 Received $2,400 cash for consulting with Plummer & Gorden.
      30 Paid assistant's bi-monthly salary, $1,480.
      30 Paid rent expense, $500.

      30 Received a bill for utilities, $400. The bill will be paid next month.
      30 Stewart withdrew cash of $3,000.
Requirement

1. Open the following T-accounts: Cash; Accounts receivable; Office Supplies; Prepaid Insurance; Furniture; Land; Accounts payable; Unearned Revenue; Common Stock; Dividends; Service revenue; Salaries expense; Rent expense; Utilities Expense. Explanations are not required.

2. Open a T-account for each of the accounts.

3. Post the Journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts.  
4. Prepare the trial balance of Doris Stann, Designer, at September 30, 2017.

TUTORIAL PREVIEW

Req. 2

Journal
DATE		ACCOUNTS AND EXPLANATIONS	POST. REF.	DEBIT	CREDIT
Sep	1	Cash		47,000
		Common Stock			47,000

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