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Current Attempt in Progress On May 1, Bramble Corp., a company that provides flying lessons, was started by issuing common stock in exchange for
Current Attempt in Progress On May 1, Bramble Corp., a company that provides flying lessons, was started by issuing common stock in exchange for cash of $45,200. Following are the assets and liabilities of the company on May 31, 2019, and the revenues and expenses for the month of May. Cash $ 4,850 Notes Payable $28,000 Accounts Receivable 7,600 Rent Expense 1,100 Equipment 64,200 Maintenance and Repairs Expense 550 Service Revenue 7,000 Gasoline Expense 2,300 Advertising Expense 700 Utilities Expense 200 Accounts Payable 1,600 No additional investments were made in May, but the company paid dividends of $300 during the month. Service Revenue Advertising Expense Rent Expense Bramble Corp. Balance Sheet Assets Current Assets Liabilities and Stockholders' Equity $ $
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