July 1 The company issued $600,000 of capital stock in exchange for cash. Office space was leased
Question:
July 1 The company issued $600,000 of capital stock in exchange for cash.
Office space was leased for the month of July 5 and paid $5,000 for the lease.
8 desks and chairs were purchased for the office for $28,800.
10 Equipment purchased for $50,000; A promissory note was given to be paid within 30 days.
15 Bought a truck for $150,000, paid $120,000 upfront, and gave the dealer a 60-day note for $30,000.
July 18 Paid $2,880 for consumables received and currently used.
23 received $17,280 in cash as service income.
The insurance expense for the month of July 27 was paid 4.500 TL.
On July 30, $576 was paid for the gas and oil used by the truck.
31 Billed customers for cleaning services rendered, $40,320.
His salary for July 31 is $51,840.
31 bills paid for July, $5,280.
31 Cash dividends paid, $9,600.
- Record the transactions given for the month of July in the journal.
- Post journal entries to general ledger accounts.
- Prepare a trial balance by July 31st.
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman