The following are some of the transactions that took place in Ahmed Company during the month of January 2019 AD: 03/01/2019 issues $20,000 shares of common stock for cash 05/01/2019 purchases equipment on account for $3,500, payment due within the month 09/01/2019 receives $4,000 cash in advance from a customer for services not yet rendered 10/01/2019 provides $5,500 in services to a customer who asks to be billed for the services 12/01/2019 pays a $300 utility bill with cash 14/01/2019 distributed $100 cash in dividends to stockholders 17/01/2019 receives $2,800 cash from a customer for services rendered 18/01/2019 paid in full, with cash, for the equipment purchase on January 5 20/01/2019 paid $3,600 cash in salaries expense to employees 23/01/2019 received cash payment in full from the customer on the January 10 transaction 27/01/2019 provides $1,200 in services to a customer who asks to be billed for the services 30/01/2019 purchases supplies on account for $500, payment due within three months Printing Plus took an inventory of its supplies and discovered that $100 of supplies had been used during the month. 31/1/2019 The equipment purchased on January 5 depreciated $75 during the month of January. 31/1/2019 Printing Plus performed $600 of services during January for the customer from the January 9 transaction. 31/1/2019 Reviewing the company bank statement, Printing Plus discovers $140 of interest earned during the month of January that was previously uncollected and unrecorded. 31/1/2019 Employees earned $1,500 in salaries for the period of January 21-January 31 that had been previously unpaid and unrecorded. 31/1/2019 Instructions: 1. Journalize the transactions. 2. Post to the ledger accounts. 3. Prepare a trial balance on January 31, 2019. 4. Prepare the (balance sheet, income statement and retained earnings statement) for 31/1/2019.
The following are some of the transactions that took place in Ahmed Company during the month of January 2019 AD: 03/01/2019 issues $20,000 shares of common stock for cash 05/01/2019 purchases equipment on account for $3,500, payment due within the month 09/01/2019 receives $4,000 cash in advance from a customer for services not yet rendered 10/01/2019 provides $5,500 in services to a customer who asks to be billed for the services 12/01/2019 pays a $300 utility bill with cash 14/01/2019 distributed $100 cash in dividends to stockholders 17/01/2019 receives $2,800 cash from a customer for services rendered 18/01/2019 paid in full, with cash, for the equipment purchase on January 5 20/01/2019 paid $3,600 cash in salaries expense to employees 23/01/2019 received cash payment in full from the customer on the January 10 transaction 27/01/2019 provides $1,200 in services to a customer who asks to be billed for the services 30/01/2019 purchases supplies on account for $500, payment due within three months Printing Plus took an inventory of its supplies and discovered that $100 of supplies had been used during the month. 31/1/2019 The equipment purchased on January 5 depreciated $75 during the month of January. 31/1/2019 Printing Plus performed $600 of services during January for the customer from the January 9 transaction. 31/1/2019 Reviewing the company bank statement, Printing Plus discovers $140 of interest earned during the month of January that was previously uncollected and unrecorded. 31/1/2019 Employees earned $1,500 in salaries for the period of January 21-January 31 that had been previously unpaid and unrecorded. 31/1/2019 Instructions: 1. Journalize the transactions. 2. Post to the ledger accounts. 3. Prepare a trial balance on January 31, 2019. 4. Prepare the (balance sheet, income statement and retained earnings statement) for 31/1/2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are some of the transactions that took place in Ahmed Company during
the month of January 2019 AD:
03/01/2019 issues $20,000 shares of common stock for cash
05/01/2019 purchases equipment on account for $3,500, payment due within
the month
09/01/2019 receives $4,000 cash in advance from a customer for services not
yet rendered
10/01/2019 provides $5,500 in services to a customer who asks to be billed
for the services
12/01/2019 pays a $300 utility bill with cash
14/01/2019 distributed $100 cash in dividends to stockholders
17/01/2019 receives $2,800 cash from a customer for services rendered
18/01/2019 paid in full, with cash, for the equipment purchase on January 5
20/01/2019 paid $3,600 cash in salaries expense to employees
23/01/2019 received cash payment in full from the customer on the January
10 transaction
27/01/2019 provides $1,200 in services to a customer who asks to be billed
for the services
30/01/2019 purchases supplies on account for $500, payment due within
three months
Printing Plus took an inventory of its supplies and discovered that $100
of supplies had been used during the month.
31/1/2019
The equipment purchased on January 5 depreciated $75 during the
month of January.
Printing Plus performed $600 of services during January for the
customer from the January 9 transaction.
31/1/2019
31/1/2019
Reviewing the company bank statement, Printing Plus discovers $140
of interest earned during the month of January that was previously
31/1/2019
uncollected and unrecorded.
Employees earned $1,500 in salaries for the period of January
21-January 31 that had been previously unpaid and unrecorded.
31/1/2019
Instructions:
1. Journalize the transactions.
2. Post to the ledger accounts.
3. Prepare a trial balance on January 31, 2019.
4. Prepare the (balance sheet , income statement and retained earnings statement )
for 31/1/2019.
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