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The following events occurred Gargantuan's first year of operations: 1. Acquired $23,000 cash from the issue of common stock on January 1, 2018. 2. Purchased

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The following events occurred Gargantuan's first year of operations: 1. Acquired $23,000 cash from the issue of common stock on January 1, 2018. 2. Purchased $950 of supplies on account. 3. Paid $4,560 cash in advance for a one-year lease on office space. 4. Earned $31,350 of revenue on account. 5. Incurred $12,950 of other operating expenses on account. 6. Collected $25,500 cash from accounts receivable. 7. Paid $9,150 cash on accounts payable. 8. Paid a $3,300 cash dividend to the stockholders. Adjusting Entries information 9. There was $180 of supplies on hand at the end of the accounting period. 0. The lease on the office space covered a one-year period beginning November 1. 11. There was $3,900 of accrued salaries at the end of the period. Required a. Record these transactions in general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance. d-1. Prepare an income statement. d-2. Prepare a statement of changes in stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows. Post the transaction data from the journal to ledger T-accounts ASSETS LIABILITIES Accounts Payable STOCKHOLDERS' EQUITY Common Stock Cash 23,000 25,500 6 4,5608 9,15017 3,3008 Bal. 31,490 Bal Bal. Salarles Payable Dividends Accounts Rocelvable 25,500 Bal. 25,500 Bal. Bal Supplies Service Revonde Bal. Bal. Other Operating Expense Prepaid Rent 4,560 Bal 4,560 Bal Ront Expenso Bal. Bal Prepaid Rant 4,560 o Operating Expense Bal. 4,560 Bal Rent Expense es Bal Salaries Expono Bal Supplies Expense Bal Reg A Rec>

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