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Required Information The following information applies to the questions displayed below.) During January, Central Storage Company has the following transactions. 1. January 1 Tue 10,000
Required Information The following information applies to the questions displayed below.) During January, Central Storage Company has the following transactions. 1. January 1 Tue 10,000 shares of common stock in exchange for $35,000 in cash 2. January 5 Purebase land for $20,500. A note payable a signed for the full amount. 3. January 9 Purchase storage container equipment for 58,300 canh. 4. January 12 wire three employees for $2,300 per month 5. January 18 Receive cash of $12,300 in rental fees for the current month 6. January 23 Purchase office supplies for $2,300 on account. 7. January 31 Pay employees $6,900 for the first month's salaries. 2. Post each transaction to T-accounts and calculate the ending balance for each account. For each posting, indicate the corresponding transaction number and the appropriate transaction amount. Since this is the first month of operations, all T-account have a beginning balance of zero. Cash Supplies Bog. bal Bog. bal 8,300 (3) End, bal End, bal Land Equipment Beg. bal. Beg. bal. End, bal End, bal Common Stock Accounts Payable 1 Beg. bal. Beg. bal End, bal End, bal Notes Payable Service Ravenue Beg. bal. Beg. bal End. bal. End, bal Salaries Expense Beg. bal
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