Question
On 15. February 2021, Peter Debenture began a new business called SpeedyPizza, Inc., which provides excellent pizzas in best time ever. The following six transactions
On 15. February 2021, Peter Debenture began a new business called SpeedyPizza, Inc., which provides excellent pizzas in best time ever. The following six transactions were completed by the business during February. (A) Issued to Peter 2.000 shares of capital stock in exchange for his investment of $100,000 cash. (B) Purchased land and a small building for $90,000, paying $60,000 cash and signing a note payable for the balance. The land was considered to be worth $35,000 and the building $55,000. (C) Purchased some equipment for $20,000 from PizzaKitchen, Inc. Paid $11,000 cash and agreed to pay the balance within 30 days. (D) Purchased a motorcycle on credit for $3,100 to be used for making speedy deliveries to customers. Peter agreed to make payment to Racy, Inc. within 10 days. (E) Paid in full the account payable to Racy, Inc. (F) Borrowed $15,000 from a bank and signed a note payable due in six months.
Please prepare a trial balance for SpeedyPizza, Inc. as of 28. February 2021 in the correct order and format.
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