Exhibit 2-1
All nine transactions for Ralston Sports Co. for September 2011, the first month of operations, are recorded in the following T accounts:
Refer to Exhibit 2-1. Prepare a trial balance, listing the accounts in their proper order.
Definitions:
Annual Dividend
The total dividend payment a company makes to its shareholders in a fiscal year, often quoted as a rate per share.
Common Stock
Common stock is a form of corporate equity ownership, a type of security that represents ownership in a corporation, giving holders voting rights and a share of the company’s profits.
Accrued Interest
Interest that has been earned but not yet received or recorded as of a particular date.
Bond Purchase
The acquisition of debt securities issued by corporations or governments, representing a loan made by the investor to the issuer.
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