Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 59

Maxwell Communications was organized on December 1 of the current year and had the following account balances at December 31, listed in tabular form:

Early in January, the following transactions were carried out by Maxwell Communications:
1.old capital stock to owners for $35,000.
2.urchased land and a small office building for a total price of $90,000, of which $35,000 was the value of the land and $55,000 was the value of the building.aid $22,500 in cash and signed a note payable for the remaining $67,500.
3.ought several computer systems on credit for $9,500 (30-day open account).
4.btained a loan from Capital Bank in the amount of $20,000.igned a note payable.
5.aid the $22,250 account payable due as of December 31.
Instructions
a.ist the December 31 balances of assets, liabilities, and owners' equity in tabular form as shown.
b.ecord the effects of each of the five transactions in the format illustrated in Exhibit 2-11.how the totals for all columns after each transaction.