Reference no: EM131258135
During the first month of operations ?(MayMay 20162016?), Spahr Music Spahr Music Corporation completed the following selected? transactions: LOADING... ?(Click the icon to view the transaction? data.) Requirements 1. Record each transaction directly in the? T-accounts without using a journal. Use the letters to identify the transactions. 2. Prepare the trial balance of Spahr Music Corporation May 2016
a. The business received cash of $50,000 and a building with a fair value of $106,000.
The corporation issued common stock to the stockholders.
b. Borrowed $63,000 from the? bank; signed a note payable.
c. Paid $44,000 for music equipment.
d. Purchased supplies on? account, $210.
e. Paid? employees' salaries, $5,900.
f. Received $3,700 for music services performed for customers.
g. Performed services for customers on? account, $13,100.
h. Paid $200 of the account payable created in transaction d.
i. Received? a $600 bill for utilities expense that will be paid in the near future.
j. Received cash on? account, $1,700.
k. Paid the following cash? expenses: (1)? rent, $1,200?; ?(2) advertising, $300.
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: During the first month of operations ?(MayMay 2016?), Spahr Music Spahr Music Corporation completed the following selected? transactions: LOADING... ?(Click the icon to view the transaction? data.) Requirements 1. Record each transaction directly in ..
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