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The following events apply to Complete Business Service in Year 1, its first year of operations: 1. Received $30,000 cash from the issue of common
The following events apply to Complete Business Service in Year 1, its first year of operations: 1. Received $30,000 cash from the issue of common stock. 2 Earned $25,000 of service revenue on account. 3. Incurred $10,000 of operating expenses on account. 4. Received $20,000 cash for performing services. 5. Paid $8,000 cash to purchase land. 6. Collected $22,000 of cash from accounts receivable. 7. Received a $6.000 cash advance for services to be provided in the future. 8. Purchased $900 of supplies on account. 9. Made a $7,500 payment on accounts payable. 10. Paid a $5,000 cash dividend to the stockholders. 11. Recognized $500 of supplies expense. 12. Recognized $5,000 of revenue for services provided to the customer in Event 7. Required a. Record the events in the general journal. b. Post the events to T-occounts. c. Test the equality of the debit and credit balances of the T-accounts by preparing a trial balance. Complete this question by entering your answers in the tabs below. Required A Required B Required Post the events to T-accounts. ASSETS STOCKHOLDERS' EQUITY LIABILITIES Accounts Payable Cash Common Stock Dividends Bal Bal Bal Accounts Receivable Unearned Revenue Service Revenue Bal Supplies Operating Expense Bal Land Supplies Expenses Bal Bal Repuired A Complete this question by entering your answers in the tabs below. Required A Required B Required C Test the equality of the debit and credit balances of the T-accounts by preparing a trial balano COMPLETE BUSINESS SERVICE Trial Balance As of December 31, Year 1 Account Titles Debit Credit Totals S os
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