On September 1, 2020, David and Helen start a new business called D&H Corporation. In the September, the following transactions were complete. The closing balance of Cash account was $20,000 Date Transactions
1 Shareholders invested $ 30, 000 cash in the business in exchange for ordinary shares.
2 Obtained a bank loan for $ 8,000 by issuing a note payable.
3 Paid $ cash for September office rent
4 Paid $ for supplies.
5 Bought $an equipment on account from Mandy Company
5 Paid $ advertising to Pando Advertising Company
6 Performed services for $20,000 of which $2,000 was in cash and the rest was billed to customers on account.
13 Paid the utility bill for the month, $
19 Paid Mandy Company the amount due in transaction incurred on 5/9
28 Paid employees’ salaries and wages, $
29 Received $ cash from customers billed in transaction incurred on 6/9.
30 Declared and paid a cash dividend of $400
Required:
1. Fill the dot ($) with a reasonable amount for given transactions above (0.5 marks)
2. Record transactions in General Journal for September, 2020 (0.5 marks)
3. Post the transactions to General Ledgers or T accounts for September, 2020 (0.5 marks)
4. Prepare Trial Balance for September, 2020 (0.5 marks)