Geezer Wheels Service, Inc
1. Investors bought stock in the company for $65, 000.
2. The business paid the store rent of $4,500 for the month.
3. The business bought supplies for $150 on the account.
4. The business had cash sales of $15,000
5. The business paid for a One-month insurance policy-$200.
6. The business had credit sales for $6,000
7. Received an advertising bill of $750-will pay next month
8 Paid salaries for the month of $5,000
9. Collected $4,500 from customers on account
10. Paid the account in #3 above ($150)
1 Complete the table blow.
Geezer Wheels Service, Inc
First Month of Business
Cash + Accts.Rec + Supplies = Accts. Pay + Common Stk + Revenue + Expeneses
+65,000
2 Make a General Journal entries for the above table.
3 Post to "T" accounts Sheet.
4 Make a Trial Balance Sheet.