Selected transactions for Charlotte Corporation during its first month in business are presented below.

Sept. 1 Issued common stock in exchange for $20,000 cash received from investors.

5 Purchased equipment for $9,000, paying $3,000 in cash and the balance on account.

25 Paid $4,000 cash on balance owed for equipment.

30 Paid $500 cash dividend.

Charlotte’s chart of accounts shows: Cash, Equipment, Accounts Payable, Common Stock, and Dividends.

Instructions

(a) Prepare a tabular analysis of the September transactions. The column headings should be: Cash  Equipment  Accounts Payable  Stockholders’ Equity. For transactions affecting stockholders’ equity, provide explanations in the right margin, as shown on page 110.

(b) Journalize the transactions. Do not provide explanations.

(c) Post the transactions to T accounts.