Question
Kimberly Young started her own consulting firm, Young Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1
Kimberly Young started her own consulting firm, Young Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May.
May 1 | Stockholders invested $18,900 cash in the business in exchange for common stock. | |
2 | Paid $756 for office rent for the month. | |
3 | Purchased $630 of supplies on account. | |
5 | Paid $189 to advertise for the month in the County News. | |
9 | Performed services for customer for $1,764 cash. | |
12 | Paid $252 cash dividend. | |
15 | Performed $5,292 of services on account. | |
17 | Paid $3,150 for employee salaries. | |
20 | Paid for the supplies purchased on account on May 3. | |
23 | Received a cash payment of $1,512 for services performed on account on May 15. | |
26 | Borrowed $6,300 from the bank on a note payable. | |
29 | Purchased office equipment for $2,520 paying $252 in cash and the balance on account. | |
30 | Paid $236 for utilities. |
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