The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 34,000 shares of common stock in exchange for $340,000 in cash 2. Purchased equipment at a cost of $44,000 $12,000 cash was paid and a notes payable to the seller was signed for the balance owed 3. Purchased inventory on account at a cost of $86,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $140,000. The cost of the goods sold was $74,000 5. Paid $5,400 in rent on the warehouse building for the month of March 6. Paid $6,400 to an insurance company for fire and liability insurance for a one year period beginning April 1, 2021 7. Paid $74,000 on account for the merchandise purchased in 3. 8. Collected $59.000 from customers on account 9. Recorded depreciation expense of $1,400 for the month on the equipment Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial balance from the ending account balances. Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. (Enter the number of the transaction in the column next to the amount.) Cash Accounts receivable Beg Bal Beg Bal End Bal End Bal Inventory Prepaid insurance Beg Bal Beg Bal Pro 7 13 Noyt Prepaid insurance Inventory Beg. Bal. Beg. Bal. End. Bal. End. Bal. Equipment Accumulated depreciation Beg. Bal. Beg. Bal. End. Bal. End. Bal Accounts payable Notes payable Beg. Bal. Beg. Bal. es End. Bal. End. Bal. Common stock Sales revenue Beg. Bal. Beg Bal End. Bal End. Bal Cost of goods sold Rent expense Beg. Bal. Beg Bal End. Bal. End. Bal. End. Bal End. Bal. Notes payable 0.25 points Accounts payable Beg. Bal. Beg. Bal. eBook End. Bal. End. Bal. Hint Common stock Sales revenue bonis Beg. Bal. Beg Bal. Print References End. Bal. End. Bal. A Cost of goods sold Rent expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Depreciation expense Beg. Bal. End. Bal. Trial Balance > 1 Issued 34,000 shares of common stock in exchange for $340,000 in cash 2. Purchased equipment at a cost of $44.000 $12,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $86,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $140,000. The cost of the goods sold was $74,000 5. Paid $5,400 in rent on the warehouse building for the month of March 6. Paid $6,400 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021 7. Paid $74,000 on account for the merchandise purchased in 3 8. Collected $59,000 from customers on account 9. Recorded depreciation expense of $1.400 for the month on the equipment Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero. Prepare a trial balance from the ending account balances. Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Prepare a trial balance from the ending account balances. Trial Balance Debits Account Title Credits Saved Chapter 2 Homework 8. Collected $59.000 from customers on account. 9. Recorded depreciation expense of $1,400 for the month on the equipment Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zer balance from the ending account balances 0.25 points Complete this question by entering your answers in the tabs below. T Accounts Trial Balance Prepare a trial balance from the ending account balances. Trial Balance Debits Account Title Credits Referens
