Creek Company plans to own and operate a storage rental facility. For the first month of operations, the company has the

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Creek Company Plans To Own And Operate A Storage Rental Facility For The First Month Of Operations The Company Has The 1 (41.78 KiB) Viewed 58 times

Creek Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $33,000 in cash. 2. January 5 Purchase land for $19,500. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,100 cash. 4. January 12 Hire three employees for $2,100 per month. 5. January 18 Receive cash of $12,100 in rental fees for the current month. 6. January 23 Purchase office supplies for $2,100 on account. 7. January 31 Pay employees $6,300 for the first month's salaries. Requirement General Journal General Ledger Trial Balance Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Issue 10,000 shares of common stock in exchange for $33,000 in cash. Note: Enter debits before credits. Account Title Debit Credit Date January 01 Clear entry View general journal Record entry