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Prepare a Trial Balance, Income statement, Statement of Retained earnings and a Balance Sheet. Nov 2 - Received 525,000 cash to begin the company in
Prepare a Trial Balance, Income statement, Statement of Retained earnings and a Balance Sheet. Nov 2 - Received 525,000 cash to begin the company in exchange for common Stock Nov 3 - signed a lease for a building and paid $1,700 for the first month's rent. Nov 4 - Purchased canoes for $6,240 on the account. Nov 7 - Purchased office supplies on account, \$1,200. Nov 8 - Earned $1,600 cash for rental of canoes. Nov 9 - Paid $2,400 for one-year insurance for the business Nov 15 - Paid $1,600 cash for wages. Nov 16 - Dividends paid 5400 Nov 17 - Sold some T-shirt to a vacation group for $500 on account. Nov 18 - Received $700 in advanced for hats for a large group that will arrive in November 30. Nov 20 - Received a bill for 5110 for utilities. Nov 22 - Received a bill for 5120 for cell phone expenses. Nov 26 - Rented canoes to Little Lake on account, $3,500. Nov 28 - Paid $1,500 on account related to the November 4, purchase. Nov 30 - Received 51,000 from Little Lake for canoe rental on November 26. Now 30 - Supply balance at Nov 30 is $200 Nov 30 - The group that purchased the hats arrived and received the hats Nov 30 - $250 was incurred this month in gas expenses but the bill has not been received
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