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Barton Corporation began operations on November 1, 2014. The transactions for the first month follow a. Barton Corporation issued shares to shareholders for $40,000.
Barton Corporation began operations on November 1, 2014. The transactions for the first month follow a. Barton Corporation issued shares to shareholders for $40,000. b. Furniture was rented by a customer for $1,700 cash. c. The bill for the $1,500 advertising campaign that ran last week was received today and paid. d. Performed consulting services today and collected $800. e. $1,300 of commissions were earned and collected today by Barton Corporation. f. Barton Corporation will pay this month's utilities bill of $200 received today, within 30 days. g. Barton Corporation paid a $500 bill received today for an advertising campaign that ran last week h. A client rented equipment for $7,500 cash i. A bill was received today for last week's $750 advertising campaign. It must be paid within 15 day j. Barton Corporation paid dividends of $2,200 to the shareholders. Fill out the following table, according to the transactions above. Select the headings for each column by whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of sign is required for totals). In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet a) Complete the following accounting equation table Assets = Liabilities Equity +Share Capital+Retained Earnings Explanation (i) Bal.
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