General Ledger Accounts

For the Year Ended December $31,$ Year $1$

Event Assets $=$ Liabilities $+$ Stockholders$$ Equity Account Titles for Retained Earnings

Cash Accounts Receivable $=$ Salaries

Payable $+$ Common

Stock Retained

Earnings

$1.20,000=+20,000$

$2.56,000=+56,000$

$3.(2,500)=+(2,500)$

$4.48,000(48,000)=+$

$5.=10,000+(10,000)$

$6.(2,000)=+(2,000)$

Totals $63,5008,000=10,000+20,00041,500$