Ahuna, Inc. provides in-home cooking lessons to its clients. The companys trial balance dated March 1, 2011,

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.

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

Transcribed Image Text:

AHUNA, INC. TRIAL BALANCE MARCH 1, 2011 Cash .. . Accounts ecvable Cooking supplies . Accounts payable Dividends payable Dividends Capital stock Retained earnings Client revenue- Salaries expense ······ Travel expense- Printing expense 1,800 800 $ 300 500 500 6,000 1,400 5,800 3,100 1,500 600 $14,000 $14,000