I just need the trial balance part

NYC Designers inc was formed on January 1 2016 by BestDesigner
January 1, 2016 BestDesigner invested $1,000,000 into the company in cash
January 2, 2016 Received a loan from the bank for $100,000 in cash
January 3, 2016 Purchased land for $250,000 in cash
January 3 2016 Purchased building for $120,000 in cash
January 3 2016 Purchased machinery for $150,000 in cash
January 6 2016 Purchased $160,000 of fabric from XYZ Vendor on credit
January 15 2016 Sold $450,000 of garments to Macy’s for cash
January 16 2016 Sold $60,000 of garments to Macy’s on credit
January 18, 2016 Paid $75,000 towards the amount owed to XYZ for the purchases made on January 6 2016
January 21 2016 Received $45,000 from Macy’s on the sale made on credit to them on January 16, 2016
January 22, 2016 Paid $5,000 to Con Edison for utilities
January 25, 2016 Paid salaries of $55,000 in cash
January 25, 2016 Paid rent of $7,500 in cash
January 27, 2016 Paid office expenses of $25,000 in cash
January 29, 2016 BestDesigner bought a watch for personal use for $20,000 and paid for it out of the company’s cash
Prepare journal entries, post to the general ledger, prepare a trial balance as at January 31 2016, and financial statements for January 2016

Answer rating: 100% (QA)

Journal Entry Date Particulars Dr Amt Cr Amt 2016 Jan01 Cash Dr 1000000 To BestDesigner Capital Ac 1... View the full answer