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1. Soaring Eagle entered a contract with the City for services to be provided at a later date. The City paid Soaring Eagle $52,000 for these services to be provided. 2. The administrative assistant ordered supplies and paid for the order in the amount of $1121 using cash. 3. Customer Emily Jane paid Soaring Eagle for a previous invoice (an accounts receivable) in the amount of $1,400 4. In an effort to raise capital, Soaring Eagle issued 9,500 stocks at a stock price of $127.50 per share, for a total issuance of $1,211,250 . 5. Soaring Eagle purchased new equipment for the company in the amount of $855,000 . The invoice for payment has not yet been received. 6. The payroll cycle for Soaring Eagle has closed, resulting in a total payroll to be issued in the amount of $134,700 . Payroll checks will not be issued until the following week.

7. On the first of the month, Soaring Eagle prepaid their business insurance for the year with a cost of $5,500 . 8. Soaring Eagle prepaid rent for the quarter (3 months) for a total cost of $30,000

9. Soaring Eagle paid for television advertisements on stations regional to the business with a cost of $1,100 which was paid with cash. 10. Due to damage the administrative assistant returned office supplies totaling 105 A cash refund was received. The Chart of Accounts for Soaring Eagle includes the following account names, which should be used by the accountant: Accounts Payable Accounts Receivable Cash Common Stock Equipment Insurance Expense Supplies Supplies Expense Prepaid Insurance Prepaid Rent Unearned Revenue Advertising Expense Rent Expense Revenue Salary Expense Salary Payable Directions: Using the period information provided for Soaring Eagle, prepare T-accounts and Trial balance using the data provided, if cash has a beginning balance of 56,790, account payable 17,767, Account Receivable 18,900, Common Stock 50,000, equipment 155,000, insurance expense 1,200, supplies 12,000, supplies expense 7,871, prepaid insurance 5,500, prepaid rent 30,000, unearned revenue 100,000, advertising expense 4,350, rent expense 12,000, revenue 155,223, salary expense 56,000, salary payable 0. Use the account names as listed in the Chart of Account, You will have a total of 10 entries that need to be created.

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