Question

Selected transactions for Cullumber Couture during its first month in business are presented below. Shareholders invested NT$12,400 cash in the business in exchange for ordinary shares. Purchased equipment for NT$13,300 paying NT$4,300 in cash and the balance on account. Paid NT$1,080 cash on balance owed for equipment. Declared and paid a NT$880 cash dividend. Sept. 1 5 25 30 Cullumber's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Share Capital-Ordinary, and No. 332 Dividends. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Account Titles Credit Date Debit

Answer 1

Date	Account Titles				Debit	Credit
1-Sep	Cash				12,400
	Share Capital -Ordinary					12,400
5-Sep	Equipment				13,300
	cash					4,300
	Accounts payable					9,000
25-Sep	Accounts payable				1,080
	Cash					1,080
30-Oct	Dividends				880
	cash					880
Cash
Date	Ref	Debit	Credit	Balance
1-Sep		12,400		12,400
5-Sep			4,300	8,100
25-Sep			1,080	7,020
30-Oct			880	6,140
Equipment
Date	Ref	Debit	Credit	Balance
5-Sep	13,300			13,300
Accounts payable
Date	Ref	Debit	Credit	Balance
5-Sep			9,000	9,000
25-Sep		1,080		7,920
Share capital-ordinary
Date	Ref	Debit	Credit	Balance
5-Sep			12,400	12,400
Dividends
Date	Ref	Debit	Credit	Balance
30-Oct	880			880