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AutoSave Draw File Home insert Formulas Data Review View Acrobat Page Layout Help Calibri -12 Currency - A A A- lill ili 2 Wrap Text

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AutoSave Draw File Home insert Formulas Data Review View Acrobat Page Layout Help Calibri -12 Currency - A A A- lill ili 2 Wrap Text Merge & Center - Paste BIU $ - %% Number Clipboard Font Alignment 8 450,000 AXAA Company Ltd. is formed as a corporation January 1, 2021, and has the following transactions for January Required: 1. Prepared Journal Entries for Transactions 1-1 Transaction 1 Transaction Common share wired for 1450,000 bath B. Cash $450.000 El Common Stock 450.000 Transaction 2 Due to shortage of cash for the business operations, on Jan 1.2021, the compartonowed 1200.000 hom PBC bank on an interest of 5% Dr Cash 200.000 C Bank Loan Payable 200.000 Transaction On Jan 1 2021 AXAA pat2 500 cash for Januaryen to the landlord Den Expense 2500 Or can 2.500 Transaction On Jan 1 AXAApd 13.600 for 1-year insurance policy with the insurance coverage beginning on Jan 12021 Di Prepaid intu 3.600 C.Cash 3.500 - Transaction 5 On Jan 10. AXAApad 1125.000 10 purchase equipment DEqaper 125.000 36 a. Cash 125.000 55.000 2. Transaction On Jan 10, AXAA purchased a Land for 155.000 Orland 55.000 at Cr Cash-AI Se 35 Transaction * On Jan 12 the company purchased inventory for 145.000 on CON Inventory 45.000 C Account Pau Journal Entries T Accounts Template 45.000 Unadjusted TB Adjusted Adjusted FS Enter 24 Type here to search VI D8 450,000 C D G H 3T Transaction 8 38 On Jan 15. AXAA told 65.000 of product to customers, $40,000 was received in cash the balance was on account Cost of products sold was $35.000 39 Dr Cath 40,000 Dr. Account Receivable 25,000 41 C. Service Revenue 65,000 42 De Cost of goods sold 35.000 23 Cl. Account Payable 35,000 24 45 Transaction 9 16 On Jan 20, AWAA received an $25,000 payment from oustomers for sales made on account 0 Cash 25.000 Ct Account Receivable 25,000 4 50 Transaction 10 5 The comparw makes a payment to suppliers for $45.000 for inventory previously purchased on account on Jan 12 52 Account Payable 45.000 35 ng 45.000 ST 55 Transaction 11 56. On Jan 21 AXAA pad monthly by costs of 12 500 Unity Cost 2.500 Ct Cash 2500 Transaction 12 o On Jan 25, AXAA paldthevebire hosting lee for the month in the amount of $2,800 61 D Webhosting 2.800 Cicach 2.800 65 A Transaction 13 On Jan 31 AXAA pald 122.900 in ages to employees for the month of January Dages and Spenser 22.300 67 C Cash 22 900 63 Transaction 14 Y0 Ondan 1 AXA A declared and paid dividends in the mount of 12,500 tot shareholders D Retained Eng 2.500 C.de 25 Journal Entries T Accounts Template Unadjusted te Enter Adjusted T8 Adjusted FS 2 -A 250 CS 15.000 1.000 Preisbething Under thehehe. AE 1 Or Die Ad Det recorded to the AXA e for at berec 1. MET Pred 100 Propemes incordechor the yeart A recorded the bank to the other the company bok for the thought GA 360 F EP Lased . B c D E G H Required: 4. Prepare an unadjusted trial balance (If both Totals are correct, put "OK" in the adjsacent cell beside them, otherwise "Error" should appear) AXAA Company Unadjusted Trial balance As at January 31, 2021 Account Names Debit Credit Cash Accounts Receivable Inventory Prepaid Expense Equipment Land Accounts Payable Bank Loan Payable Common Shares Dividends Service Revenue Cost of Goods Sold Wages Expense Rent Expense Utilities Expense Website Hosting Fee Totals Clipboard Font 5 Alignment 112 X A B D E G H Required: . Prepare an unadjusted trial balance {lf both Totals are correct, put "OK" in the adjsacent cell beside them, otherwise "Error" should appear) 2. 3 4 5 6 7 9 10 11 12 13 14 15 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 AXAA Company Adjusted Trial balance As at January 31, 2021 Account Names Debit Credit Cash + Accounts Receivable Inventory Prepaid Expense Equipment Accumulated Depreciation, Equipment Land Accounts Payable Interest Payable Bank Loan Payable Common Shares Retained Earnings Dividends Service Revenue Cost of Goods Sold Wages Expense Utilities Expense Rent Expense Website Hosting Fee Insurance Expense Depreciation Expense Interest Expense Totals OR Journal Entries TL Accounts Template Unadjusted To Adjusted TB Ac Ready o Type here to search C 1

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