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Prepare a balance sheet. Gargantuan Balance Sheet As of December 31, 2018 Assets Cash Accounts receivable Total assets $ 0 Liabilities Accounts payable Salaries payable
Prepare a balance sheet. Gargantuan Balance Sheet As of December 31, 2018 Assets Cash Accounts receivable Total assets $ 0 Liabilities Accounts payable Salaries payable Total liabilities $ $ 0 Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 0 $ $ 0 The following events occurred Gargantuan's first year of operations: 1. Acquired $23,000 cash from the issue of common stock on January 1, 2018. 2. Purchased $950 of supplies on account. 3. Paid $4,560 cash in advance for a one-year lease on office space. 4. Earned $31,350 of revenue on account. 5. Incurred $12,950 of other operating expenses on account. 6. Collected $25,500 cash from accounts receivable. 7. Paid $9,150 cash on accounts payable. 8. Paid a $3,300 cash dividend to the stockholders. Adjusting Entries information 9. There was $180 of supplies on hand at the end of the accounting period. 0. The lease on the office space covered a one-year period beginning November 1. 11. There was $3,900 of accrued salaries at the end of the period. Required a. Record these transactions in general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance. d-1. Prepare an income statement. d-2. Prepare a statement of changes in stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows
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