From the Following List of Transactions, Prepare a Trial Balance

question 112

Essay

From the following list of transactions, prepare a trial balance dated March 31, 2014, for Niko Inc., which began operations on March 1, 2014.
a. Sold 600 common shares for $12,000.
b. Located a building suitable for a dry cleaning business, paying the first month's rent of $2,000.
c. Purchased cleaning supplies for $500 cash.
d. Purchased cleaning equipment on account costing $6,000.
e. Services of $5,000 were rendered for cash during the month.
f. Paid $1,500 salaries to employees for the month.
g. Paid utilities bill of $500 for the month.

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Definitions:

Industrial Revolution

marks the period of major industrialization that took place during the late 1700s and early 1800s, significantly transforming economies and societies through the adoption of new manufacturing processes and technologies.

American Workers

Refers to individuals in the United States engaged in various forms of employment, contributing to the country's labor force and economy.

German Laborers

Refers to workers or employees in Germany, particularly those involved in various sectors such as manufacturing, services, and construction.

Age of Mass Consumption

A stage of economic development characterized by high levels of production and consumption of mass-produced goods, reflecting a society's advancement and wealth.