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Selected transactions for Alvarado Company during its first month in business are presented below. List Of Accounts Sept. 1 invested $12,000 cash in the business
Selected transactions for Alvarado Company during its first month in business are presented below. List Of Accounts Sept. 1 invested $12,000 cash in the business in exchange for common stock 5 Purchased equipment for $13,600 paying $2,900 in cash and the balance on account. 25 Paid $1,930 cash on balance owed for equipment. 30 Declared and paid a $640 cash dividend. Alvarado's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Common Stock, and No. 332 Dividends. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Date Account Titles and Explanation Debit Credit Sept. 11 Accounts Payable Accounts Receivable Advertising Expense Buildings Cash Common Stock Dividends Equipment Gasoline Expense Insurance Expense Land Maintenance and Repairs Expense Miscellaneous Expense Mortgage Payable No Entry Notes Payable Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Sept. 5 Sept. 25 Sept. 30 Post the transactions using the standard account form. (Post the entries into ledger in the order displayed in Part 1.) No. 101 Cash Date Explanation Ref Debit Credit Balance V J1 31 31 31 No. 157 Equipment Date Explanation Ref Debit Credit Balance 31 Accounts Payable Date Explanation Ref No. 201 Debit Credit Balance 31 31 No. 311 Common Stock Date Explanation Ref Debit Credit Balance 31 No. 332 Dividends Date Explanation Rel Debit Credit Balance
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