financeLeila Durkin, an architect, opened an office on May 1, 2012. During the month, she completed the following transactions connected with her professional practice:
n. Paid gas, oil, and repairs on automobile for May, $600. Instructions
1. Record the above transactions directly in the following T accounts, without journalizing: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Automobiles; Equipment; Notes Payable; Accounts Payable; Leila Durkin, Capital; Professional Fees; Rent Expense; Salary Expense; Blueprint Expense; Automobile Expense; Miscellaneous Expense. To the left of the amount entered in the accounts, place the appropriate letter to identify the transaction.
2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.
3. Prepare an unadjusted trial balance for Leila Durkin, Architect, as of May 31, 2012.
4. Determine the net income or net loss for May 10th Edition•ISBN: 9780134700724Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson525 solutions
3rd Edition•ISBN: 9781319070502 (1 more)C. Nathan DeWall, David G Myers956 solutions
6th Edition•ISBN: 9780357041178Spencer A. Rathus380 solutions
2nd Edition•ISBN: 9781464113079David G Myers901 solutions