Problem: A Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classified as...

Journalize the following transactions, post them into the ledger and prepare a trial balance. Jan 1 Mr. Rana commenced his business with Rs. 40,000 cash, furniture worth Rs. 5,000, car valued at Rs. 12,000 and stock worth of Rs. 20,000. Jan 3 deposited into bank...

How would you journalize these transactions? April 1) stockholderas invested $25,000 cash in exchange for common stock April 1) hired a secrentary at a salary of $300. Per week payable monthly April 2) paid rent for the month $800.00 April 3) purchased supplies on an account $1,500 April 10)...