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Selected transactions for Sunland Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $20,000
Selected transactions for Sunland Corporation during September 2018, its first month in business, are presented below:
Sept. | 1 | Issued common shares in exchange for $20,000 cash. | |
2 | Paid $1,500 cash for rent for the month of September. | ||
5 | Purchased equipment for $9,000, paying $2,100 in cash and the balance on account. | ||
8 | Earned $6,700 in revenue, receiving $1,000 cash and $5,700 on account of services provided. | ||
12 | Incurred $500 in advertising expense on account. | ||
20 | Paid $2,700 for repairs and maintenance expenses. | ||
25 | Paid $5,100 cash on balance owed for equipment. | ||
27 | Incurred and paid income taxes for the month amounting to $1,000. | ||
30 | Declared and paid a $400 cash dividend.
|
Prepare a trial balance at September 30, 2018.
SUNLAND CORPORATION Trial Balance Month Ended September 30, 2018Year Ended September 30, 2018September 30, 2018 | ||
Debit | Credit | |
$ | $ | |
Totals | $ | $ |
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