30 TRANSACTIONS WITH THEIR JOURNAL ENTRIES, LEDGER , TRIAL BALANC?
30 Transactions with their Journal Entries, Ledger, Trial Balance
Transaction 1: Invested $10,000 in the business
Journal Entry:
Cash (Dr) $10,000
Capital (Cr) $10,000
Ledger:
Cash Account: Dr $10,000
Capital Account: Cr $10,000
Trial Balance:
Cash: $10,000
Capital: $10,000
Transaction 2: Purchased inventory for $5,000 on credit
Journal Entry:
Inventory (Dr) $5,000
Accounts Payable (Cr) $5,000
Ledger:
Inventory Account: Dr $5,000
Accounts Payable Account: Cr $5,000
Trial Balance:
Cash: $10,000
Inventory: $5,000
Accounts Payable: $5,000
Capital: $10,000
Transaction 3: Sold inventory worth $3,000 for cash
Journal Entry:
Cash (Dr) $3,000
Sales (Cr) $3,000
Ledger:
Cash Account: Dr $3,000
Sales Account: Cr $3,000
Trial Balance:
Cash: $13,000
Inventory: $5,000
Accounts Payable: $5,000
Sales: $3,000
Capital: $10,000
Transaction 4: Paid $2,000 to accounts payable
Journal Entry:
Accounts Payable (Dr) $2,000
Cash (Cr) $2,000
Ledger:
Accounts Payable Account: Dr $2,000
Cash Account: Cr $2,000
Trial Balance:
Cash: $15,000
Inventory: $5,000
Accounts Payable: $3,000
Sales: $3,000
Capital: $10,000
Transaction 5: Purchased equipment for $8,000 on credit
Journal Entry:
Equipment (Dr) $8,000
Accounts Payable (Cr) $8,000
Ledger:
Equipment Account: Dr $8,000
Accounts Payable Account: Cr $8,000
Trial Balance:
Cash: $15,000
Inventory: $5,000
Accounts Payable: $11,000
Sales: $3,000
Capital: $10,000
Transaction 6: Received $1,000 from a customer for services rendered
Journal Entry:
Cash (Dr) $1,000
Accounts Receivable (Cr) $1,000
Ledger:
Cash Account: Dr $1,000
Accounts Receivable Account: Cr $1,000
Trial Balance:
Cash: $16,000
Inventory: $5,000
Accounts Payable: $11,000
Sales: $3,000
Accounts Receivable: $1,000
Capital: $10,000
Transaction 7: Paid $500 for rent
Journal Entry:
Rent Expense (Dr) $500
Cash (Cr) $500
Ledger:
Rent Expense Account: Dr $500
Cash Account: Cr $500
Trial Balance:
Cash: $15,500
Inventory: $5,000
Accounts Payable: $11,000
Sales: $3,000
Accounts Receivable: $1,000
Rent Expense: $500
Capital: $10,000
Transaction 8: Received $2,000 from a customer on