Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ok a. Owner invested $61,000 cash in the company along with $22,000 of equipment in exchange for its common stock. b. The company paid $1,200

ok a. Owner invested $61,000 cash in the company along with $22,000 of equipment in exchange for its common stock. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $13,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,300 cash. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. f. The company purchased additional equipment for $6,200 cash. g. The company paid an assistant $2,400 cash as wages for the month. h. The company collected $4,300 cash as a partial payment for the amount owed by the client in transaction e. i. The company paid $13,000 cash to settle the liability created in transaction c. j. The company paid $1,200 cash in dividends to the owner (sole shareholder).
image text in transcribed
a. Owner invested $61,000 cash in the company along with $22,000 of equipment in exchange for its common stock. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $13,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,300 cash. e. The company completed work for a client and sent a bill for $8,000 to be recelved within 30 days. f. The company purchased additional equipment for $6,200 cash. g. The company paid an assistant $2,400 cash as wages for the month. h. The company collected $4,300 cash as a partial payment for the amount owed by the client in transaction C. i. The company paid $13,000 cash to settle the liability created in transaction c. j. The company paid $1,200 cash in dividends to the owner (sole shareholder). a. Owner invested $61,000 cash in the company along with $22,000 of equipment in exchange for its common stock. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $13,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected $2,300 cash. e. The company completed work for a client and sent a bill for $8,000 to be recelved within 30 days. f. The company purchased additional equipment for $6,200 cash. g. The company paid an assistant $2,400 cash as wages for the month. h. The company collected $4,300 cash as a partial payment for the amount owed by the client in transaction C. i. The company paid $13,000 cash to settle the liability created in transaction c. j. The company paid $1,200 cash in dividends to the owner (sole shareholder)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Frank Woods Business Accounting Volume 1

Authors: Frank Wood, Alan Sangster

10th Edition

9780273681496

More Books

Students also viewed these Accounting questions

Question

Evaluate the combinations 10 10. Co

Answered: 1 week ago