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its only one questionplease help me! thank you!! Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events
its only one questionplease help me! thank you!!
Exercise 13-17A (Algo) Recording transactions in the general journal and T-accounts LO 13-1, 13-2 The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $39,000 from the issue of common stock. 2. Performed $58,000 of services on account. 3. Incurred $8,500 of other operating expenses on account. 4. Paid $31.000 cash for salaries expense. 5. Collected $39,500 of accounts receivable. 6. Paid a $4.000 dividend to the stockholders. 7. Performed $10,500 of services for cash. 8. Paid $6,500 of the accounts payable. Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1. Complete this question by entering your answers in the tabs below. Reg A ReqB ReqC and brasiles de cadino verdeling below.camScanner Vannid the preceding transactions in general Journal form. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 14 oints Record the preceding transactions in general Journal form. (If no entry is required for a transaction/event, select "No jo required" in the first account field.) View transaction list eBook Journal entry worksheet G H Print > Received cash of $39,000 from the issue of common stock. Note: Enter debits before credits Event General Journal Debit Credit 1 View general Journal CS Scanbretohranith Cafiri ardner X: X: A Received cash of $39,000 from the issue of common stock. B Performed $58,000 of services on account. C Incurred $8,500 of other operating expenses on account. D Paid $31,000 cash for salaries expense. Credit E Collected $39,500 of accounts receivable. F Paid a $4,000 dividend to the stockholders. G Performed $10,500 of services for cash. Note : = journal entry has been entered S feesramed with Cam Giancenner View general Journal Journal entry worksheet Step by Step Solution
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