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Unformatted text preview: [2 points] 3. Prepare a trial balance for Jackson Enterprises at January 31, 2009. [2 points] Problem 3 (2 points) A new startup company often engages in the following transactions in its first year of operations. Classify these transactions in one of the three major categories of an organizations business activities. A. Financing B. Investing C. Operating [.25 points each] _____1. Owners investment in the business. _____ 5. Performing services for customers. _____ 2. Purchasing a new server. ______6. Collecting cash from customers. ______3. Selling used equipment. ______7. Renting warehouse space. ______4. Borrowing cash from a bank. ______8. Paying telephone bill....
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This note was uploaded on 01/09/2011 for the course FIN 324 taught by Professor Little during the Spring '10 term at University of Phoenix.
- Spring '10