Ahuna, Inc. provides in-home cooking lessons to its clients. The company’s trial balance dated
March 1, 2011, is shown below:

Ahuna engaged in the following transactions in March:
Mar. 3 Collected a $1,200 account receivable from Kim Mitchell.
Mar. 11 Purchased cooking supplies for $700 cash.
Mar. 15 paid $200 of outstanding accounts payable.
Mar. 20 Issued additional shares of capital stock for $4,000 cash.
Mar. 24 recorded $6,200 of client revenue on account.
Mar. 27 Paid March salaries of $900.
Mar. 30 Recorded and paid March travel expenses of $400.
Mar. 31 Recorded $300 in printing expenses for recipe books. Payment is due April 12.

Record the company’s March transactions in general journal form. Include a brief explanation of the transaction as part of each journal entry.
Post each entry to the appropriate ledger accounts
Prepare a trial balance dated March 31, 2011.
Has the company paid all of the dividends that it has declared?Explain.

  • CreatedApril 17, 2014
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