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These are what I need help with: 1)Prepare Journal Entries for January Activities 2)Prepare Unadjusted Trial Balance 3)Prepare Adjusting Entries 4)Prepare Unadjusted Trial Balance 5)Prepare
These are what I need help with:
1)Prepare Journal Entries for January Activities | |||
2)Prepare Unadjusted Trial Balance | |||
3)Prepare Adjusting Entries | |||
4)Prepare Unadjusted Trial Balance | |||
5)Prepare Balance Sheet | |||
6)Prepare Income Statement | |||
7)Prepare Statement of Cash Flows | |||
8)Prepare Statement of Stockholders Equity | |||
9)Prepare Analysis of Results |
The Wholesale Company began operations on January 1, 2019. | ||||||||
During the month of January 2019, the following transactions occurred: | ||||||||
Owners invest $50,000 cash in the corporation in exchange for 5,000 shares of common stock. | ||||||||
Equipment is purchased for $20,000 cash. | ||||||||
On the first day of January, $6,000 rent on a building is paid for the months of January and February. | ||||||||
Merchandise inventory costing $48,000 is purchased on account. The company uses the perpetual inventory system. | ||||||||
$30,000 is borrowed from a local bank, and a note payable is signed. | ||||||||
Credit sales for the month are $44,000. The cost of merchandise sold is $22,000. | ||||||||
$15,000 is collected on account from customers. | ||||||||
$20,000 is paid on account to suppliers of merchandise. | ||||||||
Salaries of $7,000 are paid to employees for January. | ||||||||
A bill for $2,000 is received from the local utility company for the month of January. | ||||||||
$20,000 cash is loaned to another company, evidenced by a note receivable. | ||||||||
The corporation pays its shareholders a cash dividend of $1,000. |
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