Cash 311 112 Accounts receivable 312 114 Inventory 314 115 Prepaid rent 321 116 Supplies 322...

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Cash 311 112 Accounts receivable 312 114 Inventory 314 115 Prepaid rent 321 116 Supplies 322 Common stock PIC in excess of par, CS Retained earnings Treasury stock Paid-in capital, TS 126 Equipment 411 Sales 127 Acc. depr. - Equip. 412 128 Furniture 511 Sales returns and allowances Cost of merchandise sold 129 Acc. depr. - Furniture 513 Rent expense 211 Notes payable 514 Supplies expense 212 Accounts payable 515 Depreciation expense 221 Cash dividends payable 519 911 Income summary Miscellaneous expense Step 1: Journalize the following transactions for a new corporate retail company, Boats & More, Inc., for 20X5. Enter the following on page 1 of the general journal. 111 1/1 2/1 2/15 3/1 4/20 6/30 8/17 9/2 Issued 40,000 shares of $4 par value common stock for $10 per share. Paid rent for the January through December, $12,000. Purchased equipment on credit, $2,600. Purchased inventory, paying $220,500. Paid cash for furniture for the office, $6,500. Paid cash for supplies, $720. Received cash for inventory sold, $65,000. The cost of the sold inventory was $39,600. Sold inventory on credit, $121,000. The cost of the inventory sold was $84,000. Received a partial return of $14,000 of merchandise. Credit of $21,200 was granted to the customer. Enter the following on page 2 of the general journal. 9/30 Declared a dividend of $.20 per share. 10/5 Paid off a portion of the equipment purchased on 2/1, $1,400. M0/30 Paid the dividend declared on 9/30. 11/15 Purchased 3,000 shares of their own stock for $12. 11/30 Received a cash payment from a customer for a prior purchase on credit, $20,800. 12/15 Paid $50 for miscellaneous expenses. 12/31 Declared a dividend of $.25 per share. Step 2: Post the journal entries in Step 1 to a four-column general ledger. Step 3: Prepare an unadjusted trial balance for Boats & More, Inc. as of December 31, 20X5. Cash 311 112 Accounts receivable 312 114 Inventory 314 115 Prepaid rent 321 116 Supplies 322 Common stock PIC in excess of par, CS Retained earnings Treasury stock Paid-in capital, TS 126 Equipment 411 Sales 127 Acc. depr. - Equip. 412 128 Furniture 511 Sales returns and allowances Cost of merchandise sold 129 Acc. depr. - Furniture 513 Rent expense 211 Notes payable 514 Supplies expense 212 Accounts payable 515 Depreciation expense 221 Cash dividends payable 519 911 Income summary Miscellaneous expense Step 1: Journalize the following transactions for a new corporate retail company, Boats & More, Inc., for 20X5. Enter the following on page 1 of the general journal. 111 1/1 2/1 2/15 3/1 4/20 6/30 8/17 9/2 Issued 40,000 shares of $4 par value common stock for $10 per share. Paid rent for the January through December, $12,000. Purchased equipment on credit, $2,600. Purchased inventory, paying $220,500. Paid cash for furniture for the office, $6,500. Paid cash for supplies, $720. Received cash for inventory sold, $65,000. The cost of the sold inventory was $39,600. Sold inventory on credit, $121,000. The cost of the inventory sold was $84,000. Received a partial return of $14,000 of merchandise. Credit of $21,200 was granted to the customer. Enter the following on page 2 of the general journal. 9/30 Declared a dividend of $.20 per share. 10/5 Paid off a portion of the equipment purchased on 2/1, $1,400. M0/30 Paid the dividend declared on 9/30. 11/15 Purchased 3,000 shares of their own stock for $12. 11/30 Received a cash payment from a customer for a prior purchase on credit, $20,800. 12/15 Paid $50 for miscellaneous expenses. 12/31 Declared a dividend of $.25 per share. Step 2: Post the journal entries in Step 1 to a four-column general ledger. Step 3: Prepare an unadjusted trial balance for Boats & More, Inc. as of December 31, 20X5.