Using the data provided, perform the steps below to complete the final project.
On December 1, 2019, SoccerBox Inc. started operations. The following transactions occurred during December 2019.
NOTE: There are no beginning balances-this is a new company.
Dec 1 Randol Espy invested $80,000 cash in the company for common stock.
Dec 2 Soccer Box purchased soccer equipment for $20,000 cash.
Dec 2 Soccer Box rented an old warehouse for $30,000 cash for the first year’s (December 2019- November 2020) rent.
Dec 3 Soccer Box purchased $500 of office supplies with cash.
Dec 10 Soccer Box paid $12,000 cash for an annual insurance policy.
Dec 14 Soccer Box paid $4,000 cash for the first payroll earned by its employees.
Dec 24 Soccer Box received $85,000 cash from soccer fees paid by parents for a private youth soccer lesson.
Dec 28 Soccer Box paid $4,000 cash for 2 weeks’ salaries earned by its employees.
Dec 29 Soccer Box paid $200 cash for minor repairs to its soccer equipment.
Dec 30 Soccer Box paid $150 cash for this month’s telephone bill.
Dec 30 Dividends of $1,000 cash were paid by Soccer Box to its current shareholders.
Using this spreadsheet and the information above, complete the following:
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