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:

Actual Performance

The real, measurable outcomes or results achieved in a given period, often compared to planned or expected performance.

Performance Meets Objectives

A situation where the actual outcomes align with the targeted goals set by an organization or individual.

Controlling

The process of measuring performance and taking action to ensure desired results.

Plans Fulfilled

The successful execution or completion of predetermined strategies or objectives.