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Kimberly Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $12,600 cash in the business
Kimberly Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $12,600 cash in the business in exchange for common stock. 2. Purchased equipment for $6,300 cash. 3. Paid $504 cash for May office rent. 4. Paid $378 cash for supplies. 5. Incurred $315 of advertising costs in the Beacon News on account. 6. Performed repair services for customer for $5,922 cash. 7. Paid a $882 cash dividend. 8. Paid part-time employee salaries $1,260. 9. Paid utility bills $181. 10. Performed repair services worth $1,386 on account. 11. Collected cash of $142 for services billed in transaction (10).
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