Use the General Journal sheet below to fill out the Statement of Stockholders' Equity sheet at the
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Use the "General Journal" sheet below to fill out the "Statement of Stockholders' Equity" sheet at the bottom.
General Journal | |||||
Date | Description | Debit | Credit | ||
Dec. | Cash | $ 65,000.00 | |||
Common stock | $ 65,000.00 | ||||
( To record the issuance of common stock. ) | |||||
Rent expense | 5,000 | ||||
Cash | 5,000 | ||||
( To record payment of office rent. ) | |||||
Advertising expense | 550 | ||||
Accounts payable | 550 | ||||
( To record purchases on account for T-shirts used for advertising. ) | |||||
Accounts payable | 475 | ||||
Cash | 475 | ||||
( To record payment owed on the account. ) | |||||
Cash | 2,800 | ||||
Wants ad revenue | 2,800 | ||||
( To record collection want ad revenue. ) | |||||
Delivery expense | 810 | ||||
Cash | 810 | ||||
( To record payment to the post office for bulk mailing. ) | |||||
Accounts receivable | 6,300 | ||||
Advertising revenue | 6,300 | ||||
( To record billing for advertising. ) | |||||
Delivery expense | 70 | ||||
Cash | 70 | ||||
( To record payment for courier service. ) | |||||
Printing expense | 3,900 | ||||
Cash | 3,900 | ||||
( To record payment for printing. ) | |||||
Cash | 4,570 | ||||
Want ad revenue | 4,570 | ||||
( To record the collection of want ad revenue. ) | |||||
Utilities expense | 510 | ||||
Accounts payable | 510 | ||||
( To record the December utilities invoice. ) | |||||
Printing expense | 4,400 | ||||
Cash | 4,400 | ||||
( To record payment for printing. ) | |||||
Salaries expense | 6,100 | ||||
Cash | 6,100 | ||||
( To record payment of salaries. ) | |||||
Accounts receivable | 8,950 | ||||
Advertising revenue | 8,950 | ||||
( To record billings for advertising revenue. ) | |||||
Delivery expense | 630 | ||||
Cash | 630 | ||||
( To record payment to the post office for bulk mailing. ) | |||||
Delivery expense | 90 | ||||
Cash | 90 | ||||
( To record payment for courier service. ) | |||||
Cash | 5,100 | ||||
Accounts receivable | 5,100 | ||||
( To record the collection of receivables. ) | |||||
Office equipment | 3,100 | ||||
Notes payable | 3,100 | ||||
( To record the purchase of a fax machine. ) |
Fill out the "Statement of Stockholders Equity" sheet.
HUMBOLT NEWS, INC. | ||||||
Statement of Stockholders' Equity | ||||||
For Year Ended December 31 | ||||||
Common | Retained | |||||
Stock | Earnings | Total | ||||
Balance, December 1 | ||||||
Add: Common Stock | ||||||
Add: Net Income | ||||||
Balance, December 31 |
Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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