how can I make a genral ledger and a trail balance with $30000 capital(opening entry) with 25 transactions
Answers
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Answer:
Notice that for this entry, the rules for recording journal entries have been followed. There is a date of April 1, 2018, the debit account titles are listed first with Cash and Supplies, the credit account title of Common Stock is indented after the debit account titles, there are at least one debit and one credit, the debit amounts equal the credit amount, and there is a short description of the transaction.
Let’s now look at a few transactions from Printing Plus and record their journal entries.
Recording Transactions
We now return to our company example of Printing Plus, Lynn Sanders’ printing service company. We will analyze and record each of the transactions for her business and discuss how this impacts the financial statements. Some of the listed transactions have been ones we have seen throughout this chapter. More detail for each of these transactions is provided, along with a few new transactions.
On January 3, 2019, issues $20,000 shares of common stock for cash.
On January 5, 2019, purchases equipment on account for $3,500, payment due within the month.
On January 9, 2019, receives $4,000 cash in advance from a customer for services not yet rendered.
On January 10, 2019, provides $5,500 in services to a customer who asks to be billed for the services.
On January 12, 2019, pays a $300 utility bill with cash.
On January 14, 2019, distributed $100 cash in dividends to stockholders.
On January 17, 2019, receives $2,800 cash from a customer for services rendered.
On January 18, 2019, paid in full, with cash, for the equipment purchase on January 5.
On January 20, 2019, paid $3,600 cash in salaries expense to employees.
On January 23, 2019, received cash payment in full from the customer on the January 10 transaction.
On January 27, 2019, provides $1,200 in services to a customer who asks to be billed for the services.
On January 30, 2019, purchases supplies on account for $500, payment due within three months.
Transaction 1: On January 3, 2019, issues $20,000 shares of common stock for cash.
Explanation:
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