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Walmart Inc. : Date Description Debit ($) Credit ($) 2023-12-01 Initial Capital 250,000 2023-12-02 Purchased Office Supplies 8,000 2023-12-05 Paid Office Rent 10,000 2023-12-10 Services
Walmart Inc. :
Date | Description | Debit ($) | Credit ($) |
2023-12-01 | Initial Capital | 250,000 | |
2023-12-02 | Purchased Office Supplies | 8,000 | |
2023-12-05 | Paid Office Rent | 10,000 | |
2023-12-10 | Services Rendered (60% on credit) | 90,000 | |
2023-12-15 | Received Payment from Customers | 50,000 | |
2023-12-18 | Paid Salaries | 18,000 | |
2023-12-20 | Purchased Equipment (paid in cash) | 20,000 | |
2023-12-25 | Utility Expenses Paid | 4,000 | |
2023-12-28 | Loan Received | 80,000 | |
2023-12-30 | Interest on Loan | 2,000 |
Requirements:
- Record the journal entries for the transactions of Walmart Inc.
- Post the transactions to the ledger accounts.
- Prepare a trial balance as of December 31, 2023.
- Prepare the income statement and balance sheet for the month ended December 31, 2023.
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