Given the Following Transactions for Clip Corporation, Prepare a Trial

question 88

Essay

Given the following transactions for Clip Corporation, prepare a trial balance as of March 31, 2014.
a. Owner invested $15,250 cash and $6,500 worth of equipment into the business received common shares in return.
b. Purchased supplies on account, $450.
c. Rented office space paying one months rent, $850.
d. Performed services for a customer on account, $1,400.
e. Purchased a truck by paying $1,000 down and signing a note for the remainder of $8,500.
f. Performed services for a customer and immediately collected $800 cash.
g. Paid employees salaries of $1,200.
h. Owner received a dividend of $500.

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Definitions:

Endoderm

The innermost layer of cells or tissue of an embryo in early development, which gives rise to the lining of the digestive and respiratory systems.

Maternal Stress

Psychological and physiological stress experienced by a mother during pregnancy, which can affect fetal development and child outcomes.

Placenta

An organ that develops in the uterus during pregnancy to provide oxygen and nutrients to the growing baby and remove waste products.

Oxytocin

A hormone and neurotransmitter involved in childbirth and lactation, also known to play a role in social bonding and trust.