Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need to put all of these transactions on the horizontal model / ledger. Transaction List (in random order; each transaction is independent of the
I need to put all of these transactions on the horizontal model / ledger. Transaction List (in random order; each transaction is independent of the others) 1. The company sold shares of common stock for $10,000. 2. Th 3. The company paid $1,800 on December 1, 20x8, for six months of internet connectivity that began on e company provided services to customers and received $6,000 December 1, 20X8. 4. The company paid $2,000 to the bank to reduce the loan principal. 5. The company incurred $2,500 of rent expense in 20X8, due to its landlord on January 5, 20x9. e company provided services to customers and received $3,000. 7. The company received $3.600 on April 1, 20X8, from a customer and committed to provide monthly services under a one-year contract 8. The company collected $8,000 from customers' previous sales on account. 9. The company incurred and paid employee salary expenses of $4,000. 10. The company provided services to customers on account and billed $10,000 11. The company incurred and paid $1,000 of expenses for advertising and marketing. 12. The company paid $1,000 in dividends to its stockholders. 13. The company incurred and paid $2,000 of expenses for legal advice and fees. 14. The company received $800 on November 1, 20X8, from a customer and committed to provide monthly services for the next four months. 15. The company borrowed $5,000 from a local bank. 16. The company incurred and paid employee salary expenses of $2,000. he company paid $1,200 for an insurance policy that covered the company for one year beginning August 1, 20x8. 18. The company paid $5,000 to purchase land. 19. The company provided services to customers on account and billed $7,000. 20. The company received a bill on December 30 for $3,000 for gas and electricity used in 20X8, due on January 10, 20x9
I need to put all of these transactions on the horizontal model / ledger.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started