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Required information [ The following information applies to the questions displayed below. ] Colton Enterprises experienced the following events for Year 1 , the first
Required information
The following information applies to the questions displayed below.
Colton Enterprises experienced the following events for Year the first year of operation:
Acquired $ cash from the issue of common stock.
Paid $ cash in advance for rent. The payment was for the period April Year to March Year
Performed services for customers on account for $
Incurred operating expenses on account of $
Collected $ cash from accounts receivable.
Paid $ cash for salary expense.
Paid $ cash as a partial payment on accounts payable.
Adjusting Entries
Made the adjusting entry for the expired rent. See Event
Recorded $ of accrued salaries at the end of Year
Events for Year
Paid $ cash for the salaries accrued at the end of the prior accounting period.
Performed services for cash of $
Purchased $ of supplies on account.
Paid $ cash in advance for rent. The payment was for one year beginning April Year
Performed services for customers on account for $
Incurred operating expenses on account of $
Collected $ cash from accounts receivable.
Paid $ cash as a partial payment on accounts payable.
Paid $ cash for salary expense.
Paid a $ cash dividend to stockholders.
g Repeat parts a through ffor Year
Answer is not complete.
Complete this question by entering your answers in the tabs below.
General
Journal
T Accounts Trial Balance
Income
Stmt of
Balance
Stmt of
Closing
Closing T
Post Closing
Accts
Trial Balance
Record the events and adjusting entries for Year in general journal form. Do not round intermediate calculations. If no entry
is required for a transactionevent select No journal entry required" in the first account field.
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