Journalize transactions, prepare a trial balance and balance sheet

(Learning Objectives 3 & 4) 20–25 min.

The transactions for Grinko, Inc., for the month of June 2014 have been posted to the accounts as follows:

Cash 28,000 9,000 2,500 (4)
(5)
000 Supplies 1,100 Equipment 9,000 Building 50,000 (6)
500 Accounts Payable 500 (1) (2) (4) (3)
(6) (2) 1,100 Notes Payable (5) 2,500 (3) 50,000 Common Stock (1) 28,000 Requirements 1. Prepare the journal entries that served as the sources for the six transactions.
2. Calculate the ending balance in each account.
3. Prepare the trial balance for Grinko, Inc., at June 30, 2014.
4. Prepare a balance sheet for Grinko, Inc., as of June 30, 2014.AppendixLO1