The following T-accounts summarize the operations of Chen Construction Company for July 2009. Required: 1. Assuming that
Question:
The following T-accounts summarize the operations of Chen Construction Company for July 2009.
Required:
1. Assuming that only one transaction occurred on each day (beginning on July 2) and that no dividends were paid, describe the transaction that most likely took place.
2. Prepare a trial balance at July 31,2009.
Transcribed Image Text:
Cash Accounts Receivable 7/1 1,400 150 7/11 ies 200 7/1 750 7/4 250 7/2 1,000 150 7/5 7/7 2,500 700 7/9 7/11 150 750 7/14 Common Stock Accounts Payable 1,100 7/1 7/5 150 250 7/4 Land 7/1 3,000 7/9 4,000 7/1 1,000 7/2 700 Retained Eanin 250 7/1 7/14 750 2,500 7/7
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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