Question

Exercise 2-19 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (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 $39.000 in cash 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount 3. Janunry 9 Purchase storage container equipment for $8,700 cash. 4. January 12 Hire three employees for $2.700 per month 5. January 18 Receive cash of $12.700 in rental fees for the current month 6. January 23 Purchase office supplies for $2.700 on account 7. January 31 Pay employees $8,100 for the first month's salaries References

Answer 1

BEG.BAL Jan-01 Jan-18 END.BAL credit CASH debit 39,000.00 12,700.00 SUPPLIES debit ,700.00 BEG.BAL Jan-232 credit 8,700.00 8,100.00 34,900.00 51,700.00 Jan-09 Jan-31 END.BAL 2,700.00 2,700.00 51,700.00 2,700.00 LAND debit 22,500.00 BEG.BAL Jan-05 credit BEG.BAL Jan-09 EQUIPMENT debit credit ,700.00 8 END.BAL END.BAL 22,500.00 22,500.00 8,700.00 8,700.00 22,500.00 8,700.00 BEG.BAL COMMON STOCK debit credit 1 39,000.00 BEG.BAL Jan-23 ACCOUNTS PAYABLES debit credit 2,700.00 Jan-01 END.BALL END.BAL 39,000.00 39,000.00 2,700.00 2,700.00 39,000.00 2,700.00 BEG.BAL NOTES PAYABLE debit credit 22,500.00 BEG.BAL SERVICE REVENUE debit credit 12,700.00 Jan-05 Jan-18 END.BAL 22,500.00 22,500.00 12,700.00 12,700.00 22,500.00 12,700.00 BEG.BALI Jan-31 SALARIES EXPENSES debit credit 8,100.00 END.BAL | 8,100.00 8,100.00 8,100.00