Accounting Midterm 231-02 B

Year III

Year III Transaction

1. Invested an additional $100,000 in the business.2. Paid accrued wages from prior year.3. Received cash rental income of $250,000.4. Purchased supplies for $4,000 on an account.5. Paid salaries of $65,000. 6. Supplies on hand $500.7. Accrued salaries at the end of the period for 3 days, weekly pay

$10,000.8. Paid principal of $30,000 plus interest of $10,000 on note.9. Depreciation for year is $25,000.10. Company declares and pays $10,000 dividend.

11. Received cash for services to be performed in the future of $6,000.

12. Purchased 2-year insurance policy May 1 paying $24,000.

13. Record expired insurance on December 31