1. January 1 Issue 10,000 shares of common stock in exchange for $42,000 in cash. 2. January 5 Purchase land for $24,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $9,000 cash. 4. January 12 Hire three employees for $3,000 per month. 5. January 18 Receive cash of $13,000 in rental fees for the current month. 6. January 23 Purchase office supplies for $3,000 on account. 7. January 31 Pay employees $9,000 for the first month's salaries. 3. Prepare a trial balance.

To prepare a Trial Balance, you first need to record the transactions in the Journal entries. After that you post the journals to appropriate ledger accounts. From the ledger accounts extract ending balances which you will post to the Trial Balance.

Record of the transactions will be as :

January 1

Cash $42,000 (debit)

Common Stock $42,000 (credit)

January 5

Land $24,000 (debit)

Note Payable $24,000 (credit)

January 9

Equipment $9,000 (debit)

Cash $9,000 (credit)

January 12

Salaries Expense $9,000 (debit)

Salaries Payable $9,000 (credit)

January 18

Cash $13,000 (debit)

Rental Fees $13,000 (credit)

January 23

Office Supplies $3,000 (debit)

Accounts Payables $3,000 (credit)

January 31

Salaries Payable $9,000 (debit)

Cash $9,000 credit)

Posting to Ledger Accounts and extraction of ending balances - summary

Cash $42,000 - $9,000 + $13,000 - $9,000 = $37,000

Common Stock $42,000

Land $24,000

Note Payable $24,000

Equipment $9,000

Salaries Expense $9,000

Salaries Payable $9,000 - $9,000 = $0

Rental Fees $13,000

Office Supplies $3,000

Accounts Payables $3,000