Table 1: Record the listed transactions of Nikea Inc. for the first quarter (January to...
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Table 1: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in a journal. a) 01-02-2015 issued capital stock: $20,000 b) 01-30-2015 paid the monthly rent: $5,000 c) 02-02-2015 purchased supplies on account: $1,500 d) 02-10-2015 paid a creditor on account: $1,000 e) 03-03-2015 earned sales commissions: $25,000 f) 03-30-2015 paid automobile expenses for the month: $4,500 g) 03-30-2015 paid office salaries: $8,000 h) 03-31-2015 determined the cost of supplies used: $1,500 i) 03-31-2015 paid cash dividends: $1,500 Type your response here:
Task 2: Prepare ledger accounts for cash, equity, supplies, accounts payable, sales commission, automobile expense, office salaries, supplies expense and dividend expense. Also prepare a trial balance based on the journal entries.
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