Essay
Given the following transactions for Clip Corporation,prepare a trial balance as of March 31,2017.
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.
Correct Answer:
Verified
Correct Answer:
Verified
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