Answered step by step
Verified Expert Solution
Question
1 Approved Answer
17 points ebook Print Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $88,000 cash along
17 points ebook Print Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $88,000 cash along with office equipment valued at $21,000 in a new business named HV Consulting in exchange for common stock. b. The company purchased land valued at $40,000 and a building valued at $155,000. The purchase is paid with $30,000 cash and a note payable for $165,000. c. The company purchased $1,800 of office supplies on credit. d. Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,600. e. The company purchased $5,000 of additional office equipment on credit. f. The company paid $1,800 cash salary to an assistant. g. The company provided services to a client and collected $7,400 cash. h. The company paid $645 cash for this month's utilities. 1. The company paid $1,800 cash to settle the account payable created in transaction c J. The company purchased $20,400 of new office equipment by paying $20,400 cash. k. The company completed $7,00b of services on credit for a client, who must pay within 30 days. 1. The company paid $1,600 cash salary to an assistant. m. The company received $4,000 cash in partial payment on the receivable created in transaction k n. The company paid a $2,900 cash dividend.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started