50.1K

Verified Solution

Link Copied!

i know this is a really long question and i would truly appreciate all help u can givetysm!!

The following Informatlon 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 $23,000 In cash. 2. January 5 Purchase land for $14,500. A note payable Is signed for the full amount. 3. January 9 Purchase storage contalner equipment for $7100 cash. 4. January 12 Hire three employees for $1,100 per month. 5. January 18 Recelve cash of $11,100 In rental fees for the current month. 6. January 23 Purchase office supplles for $1,100 on account. 7. January 31 Pay employees $3,300 for the first month's salarles. value: 10.00 points 1. Record each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) iew transaction list ournal entry worksheet Issue 10,000 shares of common stock in exchange for $23,000 in cash. Journal entry worksheet lssue 10,000 shares of common stock in exchange for $23,000 in cash Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 2. Post each transaction to T-accounts and calculate the ending balance for each account. Cash Supplies Beg. bal. 7.100 (3) End. bal. Land Equipment Beg. bal. End. bal. End. bal Common Stock Accounts Payable Rwsl Beg. bal Ened Notes Payable Service Revenue Beg. bal. Beg. bal End. bal. End. bal Salaries Expense Beg. bal. End. bal. 3. Prepare a trial balance. GREEN WAVE COMPANY Trial Balance Accounts Debit Credit Cash Land Accounts payable Notes payable Common stock Service revenue Totals

Answer & Explanation Solved by verified expert

See Answer