Selected transactions for Ali Company, on May 1, 2018 in her first month of business. Are as follows. 1-Invested $10,000 cash in business. 3- Purchased used car for $4,000 cash for use in business. 9- Purchased supplies on account for $500. 16- Paid $350 cash for advertising. 20- Received cash of $1,200 for services completed. Instructions (a) Journalize the transactions. (b) Post to the ledger accounts. (c) Prepare a trial balance on May 31, 2018.
Selected transactions for Ali Company, on May 1, 2018 in her first month of business. Are as follows. 1-Invested $10,000 cash in business. 3- Purchased used car for $4,000 cash for use in business. 9- Purchased supplies on account for $500. 16- Paid $350 cash for advertising. 20- Received cash of $1,200 for services completed. Instructions (a) Journalize the transactions. (b) Post to the ledger accounts. (c) Prepare a trial balance on May 31, 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Selected transactions for Ali Company, on May 1, 2018 in her first month of business. Are as follows.
1-Invested $10,000 cash in business.
3- Purchased used car for $4,000 cash for use in business.
9- Purchased supplies on account for $500.
16- Paid $350 cash for advertising.
20- Received cash of $1,200 for services completed.
Instructions
(a) Journalize the transactions.
(b) Post to the ledger accounts.
(c) Prepare a
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