Reference no: EM132624556
Question - Selected transactions for Oriole Company during its first month in business are presented below.
Sept. 1 Invested €11,837 cash in the business in exchange for ordinary shares.
Sept. 5 Purchased equipment for €10,394 paying €5,331 in cash and the balance on account.
Sept. 25 Paid €2,497 cash on balance owed for equipment.
Sept. 30 Declared and paid a €675 cash dividend.
Oriole Company's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Share Capital-Ordinary, and No. 332 Dividends.
Required -
1. Journalize the transactions.
2. Post the transactions using the standard account form.