CP 2–13

The following journal entries were prepared for Elgert Corporation for its first month of operation, January 2015.

				Debit		Credit
Jan.	1	Cash		10,000
			Share Capital			10,000
		To record the shares issued.
	5	Rent Expense			200
			Cash				200
		To record the payment of rent for the month.
	9	Unused Supplies			4,000
			Cash				4,000
		To record the purchase of supplies.
	11	Cash			1,300
			Service Revenue				1,300
		To record service revenue earned.
	28	Truck Operating Expense			450
			Accounts Payable				450
		To record truck repairs.
	30	Salaries Expense			1,800
			Cash				1,800
		To record payment of salaries for the month.
	31	Accounts Receivable			1,600
			Service Revenue				1,600
		To record service revenue earned during the month.
	31	Supplies Expense			200
			Unused Supplies				200
		To record supplies used during the month.
		Dividends			50
			Cash				50

Required:

Prepare necessary general ledger T-accounts and post the transactions.
Prepare a trial balance at January 31, 2015.
Prepare an income statement and statement of changes in equity for the month ended January 31, 2015 and a balance sheet at January 31, 2015.

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