(Q2,Q3 and Q4 from class note and slide) Use the information provided from the 11...
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Accounting
(Q2,Q3 and Q4 from class note and slide) Use the information provided from the 11 events, answer the questions for Q2, Q3, and Q4 Q2 Make a general journal based on the following events. Q3 Make a general ledger based on the following events. Q4 Make a trial balance based on the following events. Event 1 On October 1, stockholders invest $10,000 cash in an outdoor guide service company to be known as Sierra Corporation. Event 2 On October 1, Sierra borrows cash of $5,000 by signing a 3-month, 12%, $5,000 note payable. Event 3 On October 2, Sierra used $5,000 cash to purchase equipment. Event 4 On October 2, Sierra received a $1,200 cash advance from R. Knox, a client, for guide services for multi-day trips that are expected to be completed in the future. Event 5 On October 3, Sierra received $10,000 in cash from Copa Company for guide services performed in October. 1/3 Event 6 On October 3, Sierra paid office rent for October in cash, $900. Event 7 1 On October 4, Sierra paid $600 for a 1-year insurance policy that will expire next year on September 30. Event 8 On October 5, Sierra purchased an estimated 3 months of supplies on account from Aero Supply for $2,500. Event 9 On October 9, Sierra hired four employees to begin work on October 15. Each employee will receive a weekly salary of $500 for a 5-day work week, payable every 2 weeksfirst payment made on October 26. Event 10 Event 10 On October 20, Sierra paid a $500 cash dividend to stockholders Event 11 On October 26, Sierra paid employee salaries of $4,000 in cash. (See October 9 event.)
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