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On September1, 2020, David and Helen start a new business called D&H Corporation. In the September, the following transactions werecomplete.The closing balance of Cash account(at
On September1, 2020, David and Helen start a new business called D&H Corporation. In the September, the following transactions werecomplete.The closing balance of Cash account(at 30 September 2020)was $30,000
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Question 1 (2 marks) On September 1, 2020, David and Helen start a new business called D&H Corporation. In the September, the following transactions were complete. The closing balance of Cash account (at 30 September 2020) was $30,000 Date Transactions 1 Shareholders invested $ 50,000 cash and $20,000 equipment in the business in exchange for ordinary shares. Obtained a bank loan for $10,000 by issuing a note payable. Paid S........ cash for September office rent 2 3 4 Paid $......... for supplies. 5 5 Bought .........an equipment on account from Mandy Company Purchase S........ of advertising to Pando Advertising Company on account Performed services for $20,000 of which $2,000 was in cash and the rest was billed to customers on account. Paid the utility bill for the month, S........... 6 13 13 Paid Pando Advertising Company the amount due in transaction on 5/9 Paid Mandy Company the amount due in transaction incurred on 5/9 19 28 Paid employees' salaries and wages, $....... 29 Received ..... cash from customers billed in transaction incurred on 6/9. 30 Declared and paid a cash dividend of $400 Required: 1. Fill the dot (.....) with a reasonable amount for given transactions above (0.5 marks) 2. Record transactions in General Journal for September, 2020 (0.5 marks) 3. Post the transactions to General Ledgers or T accounts for September, 2020 (0.5 marks) 4. Prepare Trial Balance for September, 2020 (0.5 marks)Step by Step Solution
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