Answer Happy

Green Wave 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 $37,000 in cash. 2. January 5 Purchase land for $21,500. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,500 cash. 4. January 12 Hire three employees for $2,500 per month. 5. January 18 Receive cash of $12,500 in rental fees for the current month. 6. January 23 Purchase office supplies for $2,500 on account. 7. January 31 Pay employees $7,500 for the first month's salaries. Required: 1. Record each transaction. 2. Post each transaction to T-accounts and calculate the ending balance for each account. For each posting, indicate the corresponding transaction number and the appropriate transaction amount. Since this is the first month of operations, all T-accounts have a beginning balance of zero. 3. Prepare a trial balance. Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Record each transaction. (If no entry is required for a particular 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 $37,000 in cash. Note: Enter debits before credits. Transaction General Journal Debit January 01 Clear entry Record entry Credit View general journal