Question
Prepare a trial balance according to the following information: June 1 The company received cash of $35,000 and issued common stock to the shareholders. 2
Prepare a trial balance according to the following information:
June | 1 | The company received cash of $35,000 and issued common stock to the shareholders. | ||
2 | Borrowed $20,000 from the bank and signed a long-term note payable. | |||
8 | Purchased equipment with a short-term note payable for $10,000. | |||
9 | Rendered services billed at $3,000 and received cash of $3,000. | |||
10 | Performed services for a client on account, $6,500. | |||
12 | Employees worked two weeks and were paid salaries of $1,000. | |||
15 | Paid the short-term note payable from the June 8 purchase. | |||
22 | Purchased office supplies on account for $7,000. | |||
30 | Paid amount due for office supplies. | |||
30 | Paid monthly rent of $500, due on the last day of the month for the month of June. | |||
30 | Paid the monthly income taxes of $2,200. | |||
30 | The Board of Directors declared and paid dividends of $1,000. |
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