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***i wanna the posting only*** Example Company A was incorporated on January 1, 2010 with an initial capital of 5.000 shares of common stock having
***i wanna the posting only***
Example Company A was incorporated on January 1, 2010 with an initial capital of 5.000 shares of common stock having $20 par value. During the first month of its operations, the company engaged in following transactions: Date Transaction Jan 2 An amount of $36,000 was paid as advancement for three months Jan 3 Paid $60,000 cash on the purchase of equipment costing $80,000 The remaining amount was recognized as a one year note payable with interest rate of 9 Jan 4 Purchased office supplies costing $17.600 on account Jan 13 Provided services to its customers and received $28.500 inch Jan 13 Paid the accounts payable on the office supplies purchased on January 4 Yan 14 Paid wages to its employees for first two weeks of January aggregating 519.100. Jan 18 Provided $54.100 worth of services to its customers. They paid $32.900 and promised to pay the remaining amount Jan 23 Received $15.300 from customers for the services provided on January 18 Jan 25 Received $4.000 as an advance payment from customers Jan 26 Purchased office supplies costing $5,200 on account Jan 28 Paid wages to its employees for the third and fourth week of January: $19.100. Jan 31 paid $5.000 as dividends. Jan 31 Received electricity bill of $2,470 Jan 31 Received telephone of $1,494 Jan 31 Miscellaneous expenses paid during the month totale $3,470 The following table shows the journal entries for the above events Date Debit 100.000 Credit 100,000 000 Account Common Stock Rent Cash topment Notes Oce 0.000 000 40,000 20,000 17.000 17.600 13 23.500 20.500 Service Revue Accounts Cash Wash 17.000 37.600 19.100 19.100 200 21200 54.100 15.00 13.00 25 4.000 4.000 Com Account Service Revenue Cash Account Rece Cain Unred Reve OS Account be Wapens Divides Casa tectory pense 5.200 19.100 19,500 600 SCO 2470 2.470 1.4 144 Telephone Accounts Payable McExpense Ca 3470 Step by Step Solution
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