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Company has the following transactions for the month of January Issued 10,000 shares of Common Stock for 1. January 1 $42,000 cash. Purchase Land for
Company has the following transactions for the month of January Issued 10,000 shares of Common Stock for 1. January 1 $42,000 cash. Purchase Land for $24, 000, signed Note 2. January 5 Payable for full amount. Purchase Equipment for $9,000 cash. Hire three employees for $3,000 per month. Receive Cash of $13,000 in Rental Fees for 3. January 9 4. January 12 5. January 18 the current month. Purchase Office Supplies for $3,000 on 6. January 23 account. Pay employees $9,000 for the first month's 7. January 31 salaries Note: This is the company's first month of operations. The Beginning balance in the accounts is 0 Requirement 1 Record Transactions (1) January 1 Credit Debit (2) January 5 (3) January 9 Send Ben (4) January 12 (5) January 18 Aecpunt Pale ople (6) January 23 (7) January 31 ledor Requirement 2 Post Transactions to T Accounts Cash Common Stock Land Notes Payable Equipment Service Revenue Supplies Accounts Payable Salaries Expense Requirement 3 Prepare Trial Balance Reynolds Company Trial Balance Accounts Debit Credit Requirement 4 Prepare Financial Statements Income Statement SHE CS RE Beg Balance End Balance alance Sheet Assets Liabilities Total Liab Total Assets SHE
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