Assignment Description:
Use transactions below to create a trial balance with journal entries.

**Note: Remember to use the excel file and watch the video attached in this module to assist you with the assignment.

Record the following transactions in the general journal and post them to the general ledger.
Nov. 1 Purchase equipment on account $100,000 with cash
Nov. 3 incurred a $100,000 Loan, billing period starting in December
Nov. 5 Sold 40% equity to a new owner for $200,000
Nov. 9 Received the phone bill, $150
Nov. 12 Collected $500 of the amount due from Taylor Golf
Nov. 18 Collected $800 of the amount due from Taylor Golf
Nov. 20 Purchased a fax machine for the office from Multi Systems, Inc., on credit, $450.00
Nov. 30 Month-end close entry, Life of equipment purchased on Nov 1. Is ten years. Record monthly depreciation expense of $833
Write a summary describing what you did in this assignment.
Record audio and video showing your work (approximately 6-8 minutes).
M6 Assignment UMBO – 4
M6 Assignment PLG – 1, 2, 3
M6 Assignment CLO – 1, 2, 3, 6, 8, 9

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