Question

Prepare a trial balance given the following transactions

Required information [The following information applies to the questions displayed below.] Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $32,000 in cash. 2. January 5 Purchase land for $19,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,000 cash. 4. January 12 Hire three employees for $2,000 per month. 5. January 18 Receive cash of $12,000 in rental fees for the current month. 6. January 23 Purchase office supplies for $2,000 on account. 7. January 31 Pay employees $6,000 for the first month's salaries. - Prepare a trial balance

Answer 1

Trial balance

	Debit	Credit
Cash	30000
Supplies	2000
Land	19000
Equipment	8000
Account payable		2000
Notes payable		19000
Common Stock		32000
Rental fees		12000
Salaries expense	6000
Total	65000	65000