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E3.19 (LO 1, 3, 4), AP Selected transactions for Therow Corporation during its first month in business are presented below. Issued common stock in
E3.19 (LO 1, 3, 4), AP Selected transactions for Therow Corporation during its first month in business are presented below. Issued common stock in exchange for $20,000 cash received from investors. Purchased equipment for $9,000, paying $3,000 in cash and the balance on account. Performed services on account for $18,000. Sept. 1 5 8 14 Paid salaries of $1,200. 25 Paid $4,000 cash on balance owed for equipment. 30 Paid $500 cash dividend. Analyze transactions, prepare jour- nal entries, and post transactions to T-accounts. Therow's chart of accounts shows Cash, Accounts Receivable, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, and Salaries and Wages Expense. Instructions a. Prepare a tabular analysis of the September transactions. The column headings should be Cash + Accounts Receivable + Equipment Accounts Payable + Common Stock + Revenues- Expenses - Dividends. For transactions affecting stockholders' equity, provide explanations in the right margin, as shown on Illustration 3.4. nnat vide explanations.
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