Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cory Tanner started a new business, Tanner Gymnastics, and completed the following transactions during December: Dec . 1 Cory contributed $16,000 cash in exchange for

Cory Tanner started a new business, Tanner Gymnastics, and completed the following transactions during December:

Dec. 1Cory contributed $16,000 cash in exchange for capital.

2 Received $2,800 cash from customers for service performed.

5 Paid $400 cash for office supplies.

9 Performed services for a customer and billed the customer for services rendered, $ 2,000

10 Received $300 invoice for utilities due in two weeks.

15 Paid for advertising in the local paper, $325.

20 Paid utility invoice received on Dec. 10.

25 Collected cash in full from customer billed on Dec. 9.

28 Paid rent for the month, $1,900.

28 Paid $1,450 to assistant for wages.

30 Received $2,400 cash from customers for services performed.

31 Cory withdrew $4,000.

image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting

Authors: Bernard J. Bieg, Judith Toland

21st Edition

1111531056, 978-1111531058

More Books

Students also viewed these Accounting questions

Question

5. Give examples of binary thinking.

Answered: 1 week ago