Reference no: EM132682492
Question - YUC hotel Corporation opens a new Hotel on January 1, 2020. During the first month of operations, the following transactions occurred.
1st January, YUC hotel corporation issued common stock in exchange for $100,000 cash.
2nd January, Paid $2,000 on account for install mobile networks to Master mobile corporation.
5th January, Purchased equipment and paid cash $3,000 to Ashoor spare parts.
10th January, Purchased supplies from Pepsico corporation $2,500 on account.
20th January, Provided services to C.A. corporation for $3,000 and they will pay the amount next month.
27th January, Paid salary for employees $5,000 Cash.
28th January, Paid the half amount for Master mobile corporation which is on 2nd of January.
29th January, Paid dividends $3,500 Cash.
Instructions -
1- Journalize the transitions.
2- Prepare the ledger.
3- Prepare the trial balance.
4- Prepare Income statement.
5- Prepare retained earnings statement.
6- Prepare Balance sheet.
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