writing project

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ACG1001ABCCompanyTransactionsandTrialBalance.xlsx
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Transactions

Transactions
June 1st ABC Company receives $50,000 cash from the owner as a contribution.
June 3rd ABC Company pays $32,000 cash for equipment.
June 5th ABC Company purchases $15,000 of merchandise inventory on credit from a supplier.
June 8th ABC Company pays $ 800 in cash for employee salary.
June 11th ABC Company pays $15,000 cash to settle the account payable created on June 5th.
June 15th The owner withdraws $1,000 cash from ABC Company for personal use.
June 19th ABC Company sold merchandise inventory that had cost $8,000 for $11,000 cash (Note: This transaction will require two journal entries).
June 24th ABC Company pays $560 cash for this month's utilities.
June 27th ABC Company pays $6,000 cash (insurance premium) for a 6-month insurance policy. Coverage begins July 1st.
June 30th ABC Company pays $2,000 cash for rent.

Journal

Part 3
Required: Enter the journal entries from the transactions found on the Transaction tab
Journal Entries
Date Account Number Account Title Debit Credit

Trial Balance

Part 3
Required: Complete the Trial Balance as of June 30, [enter current year]
Trial Balance
Account Number Account Title Debit Credit
101 Checking
110 Merchandise Inventory
120 Prepaid Insurance
130 Equipment
201 Accounts Payable
301 Owner's Capital
302 Owner's Withdrawals
401 Sales Revenue
601 COGS
602 Salary Expense
603 Utility Expense
604 Rent Expense
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