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Courtland Corp. began operations on October 1, 2014. The transactions for the first month follow. a. A shareholder paid Courtland Corp. $20,000 cash for
Courtland Corp. began operations on October 1, 2014. The transactions for the first month follow. a. A shareholder paid Courtland Corp. $20,000 cash for share capital in the business. b. Courtland Corp. performed consulting services for a customer and received $5,500. c. Courtland Corp. received a bill today for this month's water utilities; $450. It will be paid within 30 days. d. Courtland Corp. collected $1,800 for commissions earned today. e. Courtland Corp. performed consulting services for a customer and received $800. f. Furniture was rented by a customer for $1,100 cash. g. Courtland Corp. received a bill today for this month's electrical utilities; $350. It will be paid within 30 days. h. Courtland Corp. performed consulting services for a customer and received $900. i. Courtland Corp. paid a $1,250 bill received today for an advertising campaign that ran last week. j. Courtland Corp. paid dividends of $1,900 to the shareholders. Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Also indicate next to each change in equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. Calculate the total balance for each column (no + or - sign is required for totals). In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended October 31.
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