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On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April: Opened abusinessbank account with a deposit
On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April:
- Opened abusinessbank account with a deposit of $21,000 in exchange for common stock.
- Purchased supplies on account, $2,120.
- Paid creditor on account, $1,340.
- Earnedsalescommissions, receiving cash, $21,590.
- Paid rent on office and equipment for the month, $4,230.
- Paid dividends, $7,000.
- Paid automobileexpensesfor month, $2,030, and miscellaneous expenses, $970.
- Paid office salaries, $2,550.
- Determined that the cost of supplies on hand was $710; therefore, the cost of supplies used was $1,410.
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