- Acquired $15,000 cash from the issue of common stock.
- Purchased inventory for $5,900 cash.
- Sold inventory costing $3,540 for $6,018 cash.
- Paid $850 for advertising expense.
Required
a. Record the general journal entries for the
preceding transactions.
b. Post each of the entries to T-accounts.
c. Prepare a trial balance to prove the equality
of debits and credits.
omplete this question by
entering your answers in the tabs
below.
- Required A
- Required B
- Required C
Post each of the entries to T-accounts.
|
|
Cash |
|
Merchandise Inventory |
Beg. Bal. |
15,000selected answer incorrect |
not attempted |
|
|
Beg. Bal. |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
End. Bal. |
15,000 |
|
|
|
End. Bal. |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
Sales Revenue |
Beg. Bal. |
3,540selected answer incorrect |
not attempted |
|
|
Beg. Bal. |
6,018selected answer incorrect |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
End. Bal. |
3,540 |
|
|
|
End. Bal. |
6,018 |
|
|
|
|
|
|
|
|
|
|
|
Cost of Goods Sold |
|
Advertising Expense |
Beg. Bal. |
not attempted |
not attempted |
|
|
Beg. Bal. |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
not attempted |
|
not attempted |
not attempted |
not attempted |
not attempted |
End. Bal. |
|
|
|
|
End. Bal. |
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