Question
1) Prepare the initial trial balance at 001.2020. ( Propose a value for the accounts with a missing balance and/or add more accounts in order
1) Prepare the initial trial balance at 001.2020. (Propose a value for the accounts with a missing balance and/or add more accounts in order to make sure that the main accounting equation and the rule of totals for trial balance are applied.)
2) Propose and journalize 10 business transactions for the company for the period 001.2020-31.01.2020. (Indicate the transactions as a text/description and then record them into the journal and T-accounts.)
3) Prepare the unadjusted trial balance at 31.01.2020.
Cash | 83.600 |
Banks | 19.000 |
Checks | 43.000 |
Accounts Receivable | 56.000 |
Notes Receivable | 67.400 |
Allowance for Uncollectible Accounts | 16.000 |
Inventory |
|
Prepaid Expenses - Rent | 50.400 |
Accounts Payable | 135.000 |
Notes Payable | 152.600 |
Dividends | 26.000 |
Tax payable |
|
Bank Loan | 228.000 |
Bonds Issued | 230.000 |
Buildings |
|
Furniture and fixture | 250.000 |
Accumulated Depreciation - Buildings | 30.000 |
Capital Stock | 537.000 |
Unearned Revenue | 110.000 |
Retained Earnings |
|
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