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Post the transactions using the standard account form

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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.

Reference no: EM132624556

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