Carbon Company entered into the following trans actions

during November Nov #685

Carbon Company entered into the following trans- actions during November:Nov. 1 Issued
common stock in exchange for $15,000 cash.4 Purchased $6,500 of equipment, paying $4,000
in cash and the remainder on account.8 Paid $5,000 for investments, which will mature in six
months.12 Billed customers $12,550 for services rendered.16 Hired office assistant at a salary
equal to being paid $1,000 every two weeks.21 Received $8,950 from customers billed on Nov.
12.22 Purchased $1,500 of supplies on account.24 Paid $1,000 towards the remaining balance
on the equipment purchase.29 Paid $500 in dividends to stockholders.30 Paid $3,400 for
November salaries.After journalizing these transactions, Carbon Company's general ledger
appeared as follows:Requireda. Reproduce Carbon Company's journal entries for November.b.
Post the journal entries to the appropriate T-accounts.c. Compare your postings to those of
Carbon Company and identify Carbon's recording errors.d. Prepare a trial balance at November
30.View Solution:
Carbon Company entered into the following trans actions during November Nov

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