E2-17 Describing transactions, posting to T-accounts, and preparing a trial balance [20–30 min] The journal of Ward Technology Solutions, Inc., includes the following entries for May, 2012:

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E2-17 Describing transactions, posting to T-accounts, and preparing a trial balance [20–30 min] The journal of Ward Technology Solutions, Inc., includes the following entries for May, 2012:

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Requirements
1. Describe each transaction. For example, the May 4 transaction description could be “Paid cash for building.”
2. Open T-accounts using the following account numbers: Cash, 110; Accounts , 120; Supplies, 130; Building, 140; Accounts payable, 210; Common stock, 310; Service revenue, 410; Rent expense, 510; Salary expense, 520.
3. Post to the accounts. Write dates and journal references (use account numbers) in the accounts. Compute the balance of each account after posting.
4. Prepare the trial balance of Ward Technology Solutions at May 31, 2012.