Question

Check my B Exercise 2-19A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (GL) SOK Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. int int ences 1. January 1 Issue 10,000 shares of common stock in exchange for $42,000 in cash. 2. January 5 Purchase land for $24,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $9,000 cash. 4. January 12 Hire three employees for $3,000 per month 5. January 18 Receive cash of $13,000 in rental fees for the current month. 6. January 23 Purchase office Supplies for $3,000 on account. 7. January 31 Pay employees 59,000 for the first month's salaries.

Answer 1

Credit Transaction 1 Date Jan, 1 General Journal Cash Common Stock Debit $42,000 $42,000 2 Jan,5 $24,000 Land Notes Payable $24,000 3 Jan, 9 $9,000 Equipment Cash $9,000 4 Jan, 12 No Entry 5 Jan, 18 $13,000 Cash Rental Fees $13,000 6 Jan,23 $3,000 Supplies Accounts Payable $3,000 7 Jan 31 Salaries Expense Cash $9,000 $9,000