The following transactions relate to Alpha Company, which provides laundry services for the Month of December 2022 1. Alpha Company sold common shares (Equity) for $12,000. 2. Located a building suitable for a dry-cleaning business and paid the first month's rent of $2,000. 3. Purchased cleaning supplies (Assets) for $500 cash 4. Purchased cleaning equipment (Assets) on account costing $6,000 5. Alpha Company provided services of $50,000 for cash during the month 6. Paid $1,500 salaries to employees for the month 7. Paid a utility bill of $1,500 for the month 8. Paid $2,000 cash for office furniture (Assets) 9. Issued a dividend of $700 Record the above transactions in the General Journal, post them to the Ledger, prepare the trial balance and present them by preparing the Income Statement, Statement of Retained Earnings, and Balance Sheet Only the Balance sheet picture is required as a submission. Answer: Total Assets = $62,300

The following transactions relate to Alpha Company, which provides laundry services for the Month of December 2022 1. Alpha Company sold common shares (Equity) for $12,000. 2. Located a building suitable for a dry-cleaning business and paid the first month's rent of $2,000. 3. Purchased cleaning supplies (Assets) for $500 cash 4. Purchased cleaning equipment (Assets) on account costing $6,000 5. Alpha Company provided services of $50,000 for cash during the month 6. Paid $1,500 salaries to employees for the month 7. Paid a utility bill of $1,500 for the month 8. Paid $2,000 cash for office furniture (Assets) 9. Issued a dividend of $700 Record the above transactions in the General Journal, post them to the Ledger, prepare the trial balance and present them by preparing the Income Statement, Statement of Retained Earnings, and Balance Sheet Only the Balance sheet picture is required as a submission. Answer: Total Assets = $62,300

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...

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