Exercise 2-12

Selected transactions for Oriole Company during its first month in business are presented below.

Sept. 1 Invested 11,837 cash in the business in exchange for ordinary shares.

5 Purchased equipment for 10,394 paying 5,331 in cash and the balance on account.

25 Paid 2,497 cash on balance owed for equipment.

30 Declared and paid a 675 cash dividend.

Oriole Company's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Share CapitalOrdinary, and No. 332 Dividends

Journalize the transactions.

Post the transactions using the standard account form.