Received $13,000 cash from the issue of common stock. Performed services on account for $45,000. Paid the utility expense of $1,100. Collected $33,000 of the accounts receivable. Recorded $6,250 of accrued salaries at the end of the year. Paid a $1,000 cash dividend to the stockholders. Record events in general ledger account.

Please see explanation

Explanation:

The transactions shall be recorded in the general ledger in the following way:

                                                                   Debit                      Credit

Cash                                                          $13,000

Common stock                                                                           $13,000

(Received $13,000 cash from the issue of common stock)

Accounts receivable                                $45,000

Revenue                                                                                      $45,000

(Performed services on account for $45,000)

Utility expense                                          $1,100

Cash                                                                                             $1,100

(Paid the utility expense of $1,100)

Cash                                                          $33,000

Accounts receivable                                                                   $33,000

(Collected $33,000 of the accounts receivable)

Salaries expense                                      $6,250

Salaries payable                                                                          $6,250

(Recorded $6,250 of accrued salaries at the end of the year)

Retained Earnings                                    $1,000

Cash                                                                                              $1,000

(Paid a $1,000 cash dividend to the stockholders)

The balance of the general ledgers are:

Cash $10,900 dr

Common stock $13000 cr

Revenue  $45000 cr

Accounts receivable $12000 dr

Utility $1100 dr

Salaries $6250 dr

Salaries accrued $6250

Dividends payable $1000 dr

Explanation:

Find the relevant postings in the general ledgers in the attached.

answer; competency based pay;