Reference no: EM132574204

Question - Journalize the following business transactions in general journal form. Then post to ledger, prepare trial balance and all financial statements. Identify each transaction by number. You may omit explanations of the transactions.

1. The company issues ordinary shares in exchange for £25,000 cash.

2. Purchased £400 of supplies on credit.

3. Purchased equipment for £10,000, paying £3,000 in cash and signed a 30-day, £7,000, note payable.

4. Real estate commissions billed to clients amount to £4,000.

5. Paid £700 in cash for the current month's rent.

6. Paid £200 cash on account for supplies purchased in transaction 2.

7. Received a bill for £600 for advertising for the current month.

8. Paid £2,200 cash for salaries.

9. The company paid dividends of £1,200.

10. Received a check for £3,000 from a client in payment on account for commissions billed in transaction 4.