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Simon Ong began an apartment cleaning business on October 1 and engaged in the following transactions during the month Oct 1 Begin his business by

Simon Ong began an apartment cleaning business on October 1 and engaged in the following transactions during the month

Oct 1 Begin his business by depositing $6,000 in a bank account in the name of the corporation in exchange for 6,000 shares of $1 par value common stock Oct 2 Ordered cleaning supplies, $500 Oct 3 Purchased cleaning equipment for cash, $1,400 Oct 4 Leased a van by making two months lease payment in advance, $600 Oct 7 Received the cleaning supplied on Oct 2 and agreed to pay half the amount in 10 days and the rest in 30 days Oct 9 Paid for repair on the van with cash, $40 Oct 12 Received cash for cleaning apartments, $480 Oct 17 Paid in full on the amount owed on supplies purchased on Oct 7, $250 Oct 21 Billed customers for cleaning apartments, $670 Oct 24 Paid cash for additional repairs on van, $40 Oct 27 Received $300 from the customer billed on Oct 21 Oct 31 Declared and paid dividend, $300

1. Journalized the October Transactions

2. Open ledger accounts and post the October Transactions

3. Prepare a trial balance for the month of October

4. From the trial balance, prepare retained earnings statement, balance sheet and income statement ending October 31

5. Calculate earnings per share, working capital, current ratio, debt to asset ratio.

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