Question
Given the following transactions for Expert Consulting Corporation during the month of June, prepare the: a. Journal Entries b. Ledger (T-Accounts) balances and c. A
Given the following transactions for Expert Consulting Corporation during the month of June, prepare the:
a. Journal Entries
b. Ledger (T-Accounts) balances and
c. A Trial balance as of December 31, 2019
a. Owner invested $43,000 cash and truck with a value of $24,250 into the business
b. The corporation purchased Factory Plant costing $37,350 by paying $16,000 down and signing a note payable for the remainder
c. The corporation purchased supplies on account, $8,750
d. The corporation rented office space paying one month's rent, $3,725
e. The corporation performed services for a customer on account, $5250
f. The corporation performed services for a customer and immediately collected $3,900, cash
g. The corporation paid employees' salaries of $11,800 and utilities of $10,050
h. The corporation paid cash dividend of $11,650 to the owners
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