Presented below is the ledger for Shumway Co.
Instructions
- Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
- Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2020.
Solution
a.
Shumway Co.
Journal
Journal
b.
Shumway Co.
Trial balance
October 31, 2020
Trial balance
October 31, 2020