Selected transactions for Sheridan during its first month of operations are as follows: Mar.2 Issued common...
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Selected transactions for Sheridan during its first month of operations are as follows: Mar.2 Issued common stock for $12,800 cash. 4 10 13 25 27 30 31 Purchased used car for $1.180 cash and $9.180 on account, for use in the business. Billed customers $2,480 for services performed. Paid $405 cash to advertise business opening. Received $1,180 cash from customers billed on March 10. Paid amount owed for used car purchased on March 4. Received $880 cash from a customer for services to be performed in April. Declared and paid $480 of dividends to stockholders. Requirements: A. Journalize Each Transactions B. Post to the ledger C. Create a Trial Balance Selected transactions for Sheridan during its first month of operations are as follows: Mar.2 Issued common stock for $12,800 cash. 4 10 13 25 27 30 31 Purchased used car for $1.180 cash and $9.180 on account, for use in the business. Billed customers $2,480 for services performed. Paid $405 cash to advertise business opening. Received $1,180 cash from customers billed on March 10. Paid amount owed for used car purchased on March 4. Received $880 cash from a customer for services to be performed in April. Declared and paid $480 of dividends to stockholders. Requirements: A. Journalize Each Transactions B. Post to the ledger C. Create a Trial Balance
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Solution A Journalize Each Transaction 1 Mar 2 Issued common stock for 12800 cash Cash Dr 12800 Comm... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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