Given the following transactions for Clip Corporation, prepare a trial balance as of March 31, 2014.
a. Owner invested $15,250 cash and $6,500 worth of equipment into the business received common shares in return.
b. Purchased supplies on account, $450.
c. Rented office space paying one months rent, $850.
d. Performed services for a customer on account, $1,400.
e. Purchased a truck by paying $1,000 down and signing a note for the remainder of $8,500.
f. Performed services for a customer and immediately collected $800 cash.
g. Paid employees salaries of $1,200.
h. Owner received a dividend of $500.

Question

Quizplus · Accepted Answer

The Answer of Given the following transactions for Clip Corporation, prepare a trial balance as of March 31, 2014.
a. Owner invested $15,250 cash and $6,500 worth of equipment into the business received common shares in return.
b. Purchased supplies on account, $450.
c. Rented office space paying one months rent, $850.
d. Performed services for a customer on account, $1,400.
e. Purchased a truck by paying $1,000 down and signing a note for the remainder of $8,500.
f. Performed services for a customer and immediately collected $800 cash.
g. Paid employees salaries of $1,200.
h. Owner received a dividend of $500.

Given the Following Transactions for Clip Corporation, Prepare a Trial