Refer to Exercise 2-18. In Exercise 2-18 Double Tree Cellular, Inc., completed the following transactions during April
Question:
In Exercise 2-18
Double Tree Cellular, Inc., completed the following transactions during April 20X6, its first month of operations:
Required
1. After journalizing the transactions of Exercise 2-18, post the entries to the ledger, using T-accounts. Key transactions by date. Date the ending balance of each account April 30.
2. Prepare the trial balance of Double Tree Cellular, Inc., at April 30, 20X6.
3. How much are total assets, total liabilities, and total stockholders' equity on April 30? Use the accounting equation.
Received $25,000 and issued common stock. 2 Purchased $800 of office supplies on account. 4 Paid $20,000 cash for land to use as a building site. 6 Performed service for customers and received cash of $2,000 9 Paid $100 on accounts payable. Apr. 1 Performed service for FedEx on account totaling $1,200. Collected $900 from FedEx on account. Paid the following expenses: salary, $1,000; rent, $500. 17 23 30
Step by Step Answer:
Cash Account Date Posting Reference Debit Date Posting Reference Credit 1Apr Common stock 25000 4Apr ...View the full answer
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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