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Prepare a Trial Balance at September 30, 2018. Selected transactions for Crane Corporation during September 2018, its first month in business, are presented below: Sept.
Prepare a Trial Balance at September 30, 2018.
Selected transactions for Crane Corporation during September 2018, its first month in business, are presented below: Sept. 1 ssued common shares in exchange for $18,000 cash. 2 Paid $ 1,400 cash for rent for the month of September. 5 Purchased equipment for $ 10,100, paying $ 2,000 in cash and the balance on account. 8 Earned $7,600 in revenue, receiving $ 1,000 cash and $6,600 on account of services provided 12 Incurred $ 500 in advertising expense on account. 20 Paid $ 2,700 for repairs and maintenance expenses 25 Paid $5,100 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $ 1,000 30 Declared and paid a $ 600 cash dividendStep by Step Solution
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