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Create T accounts and an unadjusted trial balance for Stallion Technologies. Stallion Technologies is a new company that provides services and products. Here is the
Create T accounts and an unadjusted trial balance for Stallion Technologies. Stallion Technologies is a new company that provides services and products. Here is the month of January transactions. 1. A seed series round of funding is completed and $100,000 is invested into Stallion Technologies from various Angels. 2. Stallion Technologies hires 1 developer, 1 designer, and 1 marketer; they will start Monday, Jan 16. 3. Advertising of Stallion Techs products and services was bought at a total of $2,000. 4. Stallion Tech paid rent at $5,000 for its office. 5. Stallion Tech paid $800 in miscellaneous expenses. 6. Stallion Tech paid $1000 in utilities. 7. Stallion Tech bought prepaid insurance at $2400 for the next 12 months. 8. Office supplies were purchased at $500. 9. Cleaning supplies were purchased at $100. 10. 100T shirts were purchased at $10 each and placed in inventory. 11. Stallion Tech needs equipment to host its app. They purchase $50,000 on account of equipment to host their app. 12. Stallion Tech received 100 new clients on its app service on Jan 22. They pay $2.50 a month and payments start immediately. 13. 20 of Stallion Tech clients love them and become raving fans. They buy 1T shirt each at $25. 14. 4 chairs were bought at $250 each in cash and 4 desks were bought at $150 each in cash
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