Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1 , its first year of operation: 1. Received cash of $36,000 from the issue of common stock. 2. Performed 555,000 of services on account. 3. Incurred $7,900 of other operating expenses on account. 4. Paid $28,000 cash for salaries expense. 5. Collected $38,000 of accounts recelvable. 6. Paid a $3700 dividend to the stockholders. 7. Performed $10,200 of services for cash. 8. Paid $6,200 of the accounts payable. Required a. Record the preceding transactions in general journai form. b. Post the entries to Taccounts and determine the ending balance in each account c. \& d. Determine the amount of total assets at the end of Year 1. and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Record the preceding transactions in general journal form. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet C D E F G H Note: Enter debits before credits. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1, its first yeer of operation: 1. Recelved cash of $36,000 from the issue of common stock. 2. Pertormed $55.000 of services on account. 3. Incurred $7,900 of other operating expenses on account. 4. Paid $28,000 cash for salaries expense. 5. Collected $38,000 of accounts recelvable. 6. Paid a $3700 dividend to the stockholders 7. Performed $10,200 of services for cash. 8. Paid $6,200 of the accounts payable. Required a. Record the preceding transactions in general joumal form. b. Post the entries to T-accounts and determine the encing balance in each account. c. \& d. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year 1 . Complete this question by entering your answers in the tabs below. Record the preceding transactions in general joumal form. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1 , its first year of operation: 1. Recelved cash of $36,000 from the issue of common stock. 2. Performed $55,000 of services on account. 3. Incurred $7,900 of other operating expenses on account. 4. Paid $28,000 cash for salaries expense. 5. Collected $38,000 of accounts receivable. 6. Paid a $3,700 dividend to the stockholders. 7. Performed $10,200 of services for cash. 8. Paid $6,200 of the accounts poyable. Required a. Record the preceding transactions in generaljoumal form. b. Post the entries to Traccounts and determine the ending balance in each account. c. \& d. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year 1 . Complete this question by entering your answers in the tabs below. Record the preceding transactions in general journal form. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet E F G H Incurred $7,900 of other operating expenses on account. Note: Enter debits before credits. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Yoar 1, its first year of operation: 1. Recelved cash of $36,000 from the issue of common stock: 2. Performed $55,000 of services on eccount. 3. Incurred $7,900 of other cperating experses on account. 4. Paid $28,000 cash for salates expense. 5. Collected $38,000 of accounts receivabie. 6. Paid a $3,700 dividond to the stockholders. 7. Performed $10,200 of services for cash 8. Paid $6,200 of the accounts payable. Required a. Record the preceding transstions in general journal form. b. Post the enties to T-accoints and determine the ending balance in each account e \& d. Detemmine the amount of total assets at the end of Year t, and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Record the preceding transactions in general fournal form. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1 , its first year of operation: 1. Recelved cash of $36,000 from the issue of common stock: 2. Performed $55,000 of services on account. 3. Incurred $7,900 of other operating expenses on bccount. 4. Paid $28,000 cash for selaries expense. 5. Collected $38,000 of accounts receivable. 6. Paid a $3,700 dividend to the stockholders. 7. Performed $10,200 of services for cash. 8. Paid $6,200 of the accounts payable. Required a. Record the preceding transactions in general joumal form. b. Post the entries to T-accounts and determine the ending bolance in each account. c. \& d. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year 1 . Complete this question by entering your answers in the tabs below. Record the preceding transactions in general journal form. Note: if no entry is required for a transaction/event, select "No journal entry required" in the first. account field. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1, its fist year of operation: 1. Recelved cash of 536,000 from the issue of common stock 2. Performed $55,000 of services on account 3. Incurred $7,900 of other operating expenses on sccount. 4. Poid $28,000 cash for salories expense. 5. Collected $38,000 of accounts receivable. 6. Paid a $3,700 dividend to the stockholders 7. Periormed $10,200 of services for cash 8. Paid $6,200 of the 8ccounts payable. Required a. Record the preceding transactions in general joumal form. b. Post the entries to T-sccounts and determine the ending balance in each accoure c. \& d. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year L. Complete this question by entering your answers in the tabs below. Record the preceding transactions in general joumal form. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first. account field. Exercise 13-17A (AlgO) Recording transactions in the general joumal and T-accounts LO 13-1, 13-2 The fallowny events spply to Momgomery Company for Year L. it first year of operation 1. Aeceived cash of 536.000 from the isyue of common stock. 2. Pertormed 555,000 of sepices on account. 3. Incurred $7,900 of other operating eipentes on account. 4. Paid $28,000 cesh for salaries expense. 5. Coliected 538000 of accounts receivable. 6. Paid s $3700 dididend to the stochholders. 7. Pertormed 510,200 of semices for e.sh. 8. Peid 56.200 of the accounts payable. Aequlied a. flecord the peeceding transactions ingeneraljoumal form. b. Post the entries to F-accounts and determine the ensing balance in each ecsount. e. A d. Oetemine the amount of total assets of the end of Year t and the amount of not incone for Year 1 Complete this question by entering your answers in the tabs below. Record the preceding transactions in general joumal fom. Wote: If no entry is required for a transactiongevent, select "No journal entry required" in the first account field. Exercise 13-17A (Algo) Aecording transactions In the general joumal and Traccounts L0.131,132 The following everits asply to Montgomeny Company for Year L, its firstyear of operaticn: 2. Recelved cash of 536,000 trom the issive of comman stock: 2. Fortormed 555,000 of services on becount 3. Incuated $7,900 of other operating expeneos on eccount. 4. Paid $28,000 cash for salaries expense. 5. Conected 538000 of accounts recelvable. 5. Paid a $3,700 dididend to the stockholder. 7. Peflomed $10200 of semices for cash B. Paid $6.200 of the accounts pryoble. Aequired A. Aecore the pecceding tuansoctons in general joumei form. b. Post the contries to T-aceounts and detemine the ending belance in each account i. & d. Delermine the anount of fotal assets at the end of Year 1 , and the omount of net income for Yeer 1 Complete this question by entering your answers in the tabs below. Record the preceding transactions in general joumal form. Note: if no entry is required for a transactionvevent, select wo journal entry. required in the first actount field. Exercise 13-17A (Algo) Recording transactions in the general journal and Traccounts LO 13-1, 13-2 The folawing events apply to Montgomery Compeny for Yes: 1, is frst year of operetion: 1. Pecelved cash of $36,000 from the issue of cammon stock 2. Pedormed 555,000 of services on account. 3. incurred $7,900 of other opecating expenses on account. 4. Phid 528,000 cash for swleles expense. 5. Collected 538,000 of accounts receivable. 6. Pald a $3700 dividend to the tockholders 7. Performed $10,200 of senices for eash 8. Peid $5,200 of the accourts payable Required a. Record the preceding transactions in general joumal form b. Post the entries to Faccounts and determine the ending balance in each account. c. 8d, Dotermine the ampunt of total assets at the end of Yoat 1 and the amount of net income foc Year 1 Complete this question by entering your answers in the tabs below. Post the entries to T-accounts and determine the ending balance in each account. Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The follawing events apply to Momgomecy Compeny for Year 1 , its fist year of operatian- 1. Recelwed cash of $36,000 foom the iswe of common atock: 2. Ferformed 555,000 of services on account. 3. incurred 57,900 of other operating expenses on account. 4. Paid $28,000 cash for salaries experise 5. Collected 330,000 of accourits receirable 6. Paid a 53,700 divigend to the stocktholders 7. Perlomed 510,200 of seivices for cast 8. Poid 56,200 of the accouints poyable. Required a. fiecord the proceding tracsoctions in general joumal form. b. Post the cotries to T-oscounts and determine the ending balance in each accourt. c \& &. Detemine the amount of total assets mt the end of Year 1 , and the emound of net income for Year 1 Complete this question by entering your answers in the tabs below. Determine the amount of total assets at the end of Year 1 , and the amount of net income for Year 1