Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please note that I need the answer on paper not on excel, add the calculations please On September 1, 2020, D&H Corporation starts the business.

image text in transcribed

please note that I need the answer on paper not on excel, add the calculations please

On September 1, 2020, D&H Corporation starts the business. In the September, the following transactions were complete. The closing balance of Cash account was $30,000 No 1/9 2/9 5/9 10/9 12/9 13/9 14/9 20/9 22/9 23/9 Transactions Hired three employees to work in the warehouse. They will each be paid a salary of $3,540 per month David invested $...... cash in the company in exchange for ordinary shares Signed a 2 years rental agreement on a warehouse, paid $.... in advance for first year Purchased furniture and equipment costing $...... A cash payment of $....... was made immediately, the remaining will be paid in 6 months Paid $...... cash for a one year insurance policy on the furniture and equipment Purchased basic office supplies for $ ... cash Purchased more office supplies for $.... on account Total revenues earned were $.... cash and $...... on account Paid $... to supplies for accounts payable incurred 14/9 Received /2 cash $.... from customers in payment of accounts receivable incurred on 20/9 Received utility bills in the amount of $..., to be paid next month Paid the monthly salaries of the two employees, totalling $.... 26/9 29/6 Required: 1. Fill the dot ($........) 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 for September, 2020 (1.0 marks) 4. Prepare Trial Balance for September, 2020 (0.5 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Earl K. Stice, James D. Stice

19th edition

1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911

More Books

Students also viewed these Accounting questions

Question

What does the start( ) method defined by Thread do?

Answered: 1 week ago