PLEASE help me create an unadjusted trial balance and an adjusted balance?
PLEASE help me create an unadjusted trial balance and an adjusted balance.
Three friends opened a roller rink on October 1, 2008. The following transactions occurred during the first month.
Oct 1. Received contribution of $22,000 from EACH three principal owners of the business in exchange for shares of stock.
Oct2. Purchased land valued at $15,000 and a building valued at $75,000. The seller agreed to accept a down payment of $9,000 and a Five year promissory note for the balance.
Oct3. Purchased new tables and chairs for the lounge at a cost of $25,000, paying $5,000 down and paying for the remainder in 60 days.
Oct.9 Purchased 100 pairs of skates for the cash at 35$ a pair.
Oct 12. Purchased food for $2,500 on open account. The company has 30 days to pay back.
Oct 13. Sold tickets for cash of $1,600 and concessions for $3,250
Oct.17 Rented out rink for $750, the group is to pay one half of the bill within 5 working days and the rest in 30 days.
Oct23. Received 50% of the amount billed to the group who rented the rink.
Oct26 The three owners paid a dividend of $750.
Oct 27. Paid utility wages of $1,275
Oct 30 Paid wages and salary of $2,225