Ch 2 Ex 2-3 i 1 1 Exercise 2-3 (Algo) T-accounts and trial balance (LO2-4) 12 points The following transactions occurred during March 2021 for the Wainwright Corpora warehouse. eBook 1. Issued 45,000 shares of common stock in exchange for $450,000 in cash. 2. Purchased equipment at a cost of $55,000. $17.500 cash was paid and a notes owed. 3. Purchased inventory on account at a cost of $108,000. The company uses the pe 4. Credit sales for the month totaled $195,000. The cost of the goods sold was $85. 5. Paid $6,500 in rent on the warehouse building for the month of March. 6. Paid $7.500 to an insurance company for fire and liability insurance for a one-year 7. Paid $85,000 on account for the merchandise purchased in 3. 8. Collected $70,000 from customers on account. fata for the month on the equipment. Hint hal balance [LO2-4] rch 2021 for the Wainwright Corporation. The company owns and operates a wholesale exchange for $450,000 in cash. 0. $17.500 cash was paid and a notes payable to the seller was signed for the balance of $108,000. The company uses the perpetual inventory system. -00. The cost of the goods sold was $85.000. uilding for the month of March. or fire and liability insurance for a one-year period beginning April 1. 2021. andise purchased in 3. account. 500 for the month on the equipment. T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial es. B (Algo) T-accounts and trial balance [LO2-4) transactions occurred during March 2021 for the Wainwright Corporation. The company owns and ope 5,000 shares of common stock in exchange for $450,000 in cash. ed equipment at a cost of $55,000. $17.500 cash was paid and a notes payable to the seller was signed for sed inventory on account at a cost of $108,000. The company uses the perpetual inventory system. sales for the month totaled $195,000. The cost of the goods sold was $85,000. 5,500 in rent on the warehouse building for the month of March. 7.500 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. =85.000 on account for the merchandise purchased in 3. sted $70.000 from customers on account. rded depreciation expense of $2,500 for the month on the equipment. e above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prep e from the ending account balances. Emplete this question by entering your answers in the tabs below. 3. Purchased inventory on account at a cost of $108,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $195,000. The cost of the goods sold was $85,000. 5. Paid $6,500 in rent on the warehouse building for the month of March. 6. Paid $7.500 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $85,000 on account for the merchandise purchased in 3. 8. Collected $70,000 from customers on account. 9. Recorded depreciation expense of $2,500 for the month on the equipment. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare balance from the ending account balances. complete this question by entering your answers in the tabs below. Adcounts wwwave avance post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. (Enter weber o weave we calamin next to the amount. WSW Accounts receivable Beg Ba Beg Bal M End Bal End Ball Inventory Prepaid insurance the tabs below. Accounts Trial Balance Prepare a trial balance from the ending account balances. Trial Balance wy Account Title Debits Credits @ash 450,000 195,000 vendes 2.500 55,000 Accounts receivable Accumulated depreciation Prepaid insurance Equipment Accounts payable wwentory wores payable On Look sales cevenue Cloco pode sold Rent expense Depreciation expense 193.000 w 85.000 6.500 2.500 otals 637 000 452 500 TAccounts mic