15 Feb Jan. 1 – Issued 7,500 shares of no-par common stock for $14 per share. 2. Jan. 1 – Purchased a delivery van (used) for $16,000 in cash. Monthly depreciation for the van is $250. 3.
1. Jan. 1 – Issued 7,500 shares of no-par common stock for $14 per share. 2. Jan. 1 – Purchased a delivery van (used) for $16,000 in cash. Monthly depreciation for the van is $250. 3. Jan. 1 – Paid $3,840 for a one-year insurance policy covering the period January 1, 2023 – December 31, 2023. 4. Jan. 7 – Performed repairs and maintenance on their computer equipment costing $2,000. 5. Jan. 12 – Purchased inventory on credit for $92,000. 6. Jan. 15 – Declared $4,000 in dividends payable to its shareholders on February 5th – Shipping Inc. elected to debit Retained Earnings on the date of declaration. 7. Jan. 22 – Paid $65,000 to its suppliers for inventory purchased on credit in December 2022. 8. Jan. 25 – Provided services for which a customer had paid $3,000 in December of 2022. The expect to complete the remaining services the customer paid for in February 2023. (hint: see the deferred revenue account in the January 1, 2023 trial balance). 9. Jan. 31 – Paid its employees $45,000 for work performed from December 26 – January 25. $6,800 was for work performed in December 2022, and 38,200 was for work performed
my adjusted trail balance number 5 seems off would be great if anyone could explain why the numbers don’t balance my debit is coming for 689720 while credit is 698200
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