Question
3/1 The owner, Lisa, depostied $30,000 into the bank and set up an accounting for the company. 3/1 A one-year, 12% bank loan for $5,000
3/1 The owner, Lisa, depostied $30,000 into the bank and set up an accounting for the company.
3/1 A one-year, 12% bank loan for $5,000 was obtained.
3/1 Equpiment costing $12,000 with an estimated useful life of 10 years was purchased for cash
3/6 A bill for $160 of utilities was recieved. The bill is due by the 30th of next month.
3/7 Services were provided to customers for $2,000 cash
3/10 recieved $500 on account from customers who were billed march 6.
3/15 supplies costing $3,000 were purchased on account
3/20 Paid $1,000 on account for the supplies purchased on March 15
3/30 The only employee was paid $700
3/31 Declared and paid $500 dividend to Lisa, the sole stock holder.
Supplies costing $1,500 were still unused at the end of march, the equipment is estimate to have a ten-year useful life, all the interest on the note payable will be paid at the date the note matures.
Prepare an adjusted trial balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started