Record the following transactions in the general journal. Show each account in the chart of accounts as a t-account with an ending balance

1. (deposit 1) on may 2, mrs cooper opened a business checking account at wells fargo by depositing $35,000. The corporation issued her a stock certificate for 35,000 shares of common stock with no par value

2. (check #1001) on may 3, mrs cooper signed a 1 year rental agreement with Reynold Realtor for warehouse space . she was required to pay $2400 for rent for the months of May 1-aug 31.

3. (check 1002) on may 3, she arranged for a general business liability insurance policy and paid $2700 to State Penn Insurance. this is for 12 months coverage

4. signed a 1 year note with office depot for a computer that cost $3600 and interest is 6%. There wil be no residual value at the end of five years

5. (deposit #2) on may 5, she signed a note payable to borrow $10,000 from wells fargo. interest is 9% annually and the note is to be repaid with interest in 6 monts.

6. (check 1003) on may, she purchased a delivery van for $16000 from Marvins Motors . the estimated service life of this assest is 5 years. the residual (salvage value) is $1000. this will be recorded as delivery van depreciated accordingly.

7. (check 1004)on may 6, paid $600 to have a logo painted on the side of the van. This should be added to the cost of the van and depreciated over the life of the van

8.(check 1005)on may6, paid $500 for business cards, flyers and posters. this will be recorded as prepaid advertising

9. purchased $6200 of merchandising inventory (cookies) on account from Courtney's Cookies

chart of accounts:

Current Assets Long term Assets current liabilites: long term liabilites:

10000 cash 15000 computer equipment 20000 acct. payable 27000 mortgage payable

11000 Accounts Rec. 17000 accumulated depreciation computer equip. 21100 Note payable-wells fargo 27100 note payable

12000 inventory(cookies) 15100 delivery van 21200 note payable office mart

13100 supplies 17100 accumulated depreciation delivery van 23100 wages payble

13200 shipping supplies 23200 interest payable

advertising

Stockholders equity: Revenue: Expenses:

39003 common stock 40000 sales 50000 cost of goods sold

39005 retained earnings 60100 legal expense

39007 dividends 60150 supplies expense

60200 shipping supplies expense

60300 insurance expense

60400 credit card expense

60500 advertising and promotion expense

60550 utility expense

60600 rent expense

60650 depreciation expense

60700 interest expense

60750 bank service fee