Business
Business, 08.02.2021 19:10, musa79

I. Prepare a journal entry. (a) Stockholder invests $15,000 into the business.
(b) Company borrows $15,000 signing a note payable to the bank that is due in three months.
(c) Receives and pays for a $10,000 truck and $5,000 of equipment.
(d) Purchases $600 of supplies on account.
(e) Signs contract for first website design for $10,000.
(f) Pays $200 to the supplier in (d).
(g) Purchases and pays for $400 of supplies.
(i) Orders a $900 computer, to be delivered in 90 days.
Transaction # Accounts titles (names) Debit Credit
II. Post the transactions to ledger accounts and then determine the ending balances of each of the following T-accounts.
Assets Liabilities Stockholders' Equity
Cash Accounts Payable Common Stock
Supplies Notes Payable Retained Earnings
Equipment
3. PREPARING A TRIAL BALANCE AND A CLASSIFIED BALANCE SHEET
Use the ending balances from the T-accounts to prepare a trial balance as of December 31, Year 1.
World Wide Webster
Trial Balance
At December 31, Year 1

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Answers: 3

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I. Prepare a journal entry. (a) Stockholder invests $15,000 into the business.
(b) Company b...

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