Instructions

Big Office Inc. started business on January 1^st, 2021, with initial capital of 30,000 shares of common stock at $3 each.

During the companys first month of business, it performed the following transactions:

• Received Capital worth $90,000.
• Paid $2,000 for the first months rent.
• Paid $10,000 for the following five months of rent.
• Purchase $20,000 worth of furniture at a 5% trade discount.
• Purchase $12,500 worth of office supplies on credit.
• Received $30,000 for services rendered to customers.
• Payment of balance for $12,500 worth of office supplies purchased on January 6th.
• Purchase of $20,000 worth of equipment with $10,000 in cash and $10,000 in notes payable.
• Provided $45,000 in services to customers on credit.
• Received $12,500 from customers for the services rendered on January 13th.
• Purchased office supplies worth $1,250.
• Customers paid $32,500 to cover the remaining balance for services rendered on January 13th.
• Paid $560 in electrical expenses.
• Paid $348 in utilities expenses.
• Paid $2,900 for miscellaneous expenses accrued during the month of January.
• Paid $30,200 in wages to employees.