Question
Create a Trial Balance Sheet for the following scenerio. May 1 Mr. Wayne deposited $200,000 of his personal money into the business savings account. 2
Create a Trial Balance Sheet for the following scenerio.
May 1 | Mr. Wayne deposited $200,000 of his personal money into the business savings account. | |
2 | The Corporation signs an agreement to rent an office space for $1,200 per month, with the first 6 months due at the time of signing | |
2 | Mr. Wayne contributed a computer worth $1,500 and a desk worth $3,500 to the Corporation | |
2 | The Corporation bought $300 worth of miscellaneous office supplies such as pens, pencils and paper | |
2 | The Corporation bought a printer for $800 | |
3 | The Corporation paid Robin $500 to produce a commercial promoting the Corporation | |
4 | The Corporation paid $2,300 in airfare for Mr. Wayne to attend a CPA conference in Washington DC | |
4 | The Corporation paid $800 for a hotel in Washington DC for 4 nights so Mr. Wayne could attend the CPA conference. | |
6 | Mr. Wayne spent $120 out of the Corporation's bank account on a pair of shoes | |
10 | The Corporation reimbursed Mr. Wayne $1,300 for meals spent in Washington DC | |
15 | The Corporation hires Mr. Freeze as the Senior Accountant for $25 an hour | |
15 | Mr. Wayne bills Mr. Joker $450 for monthly bookkeeping services | |
15 | Mr. Wayne bills Ms. Ivy $600 for monthly bookkeeping services and payroll preparation | |
20 | Mr. Wayne bills Mr. Face $550 for preparation of his 2015 tax return. | |
30 | The Corporation paid $200 for utilities | |
30 | The Corporation paid $125 for the telephone service | |
30 | The Corporation accepted a credit payment from Mr. Joker for $450, but incurred a $5 credit service fee and received $445 in cash | |
30 | The Corporation received a notice from the Court that Mr. Face was granted bankruptcy and is not mandatory to pay his amount due. | |
30 | The Corporation received an invoice for miscellaneous office supplies for $425 | |
31 | The Corporation billed miscellaneous clients in the total amount of $12,500. | |
31 | The Corporation paid wages for the month of May which consisted of the following: | |
Wages | $2,400 | |
Employer Payroll Taxes to be paid next month | $703 | |
Employee taxes paid by the employer due next month | $476 | |
Cash paid out on the 31st | $1,924 |
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