Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On April 1, Oriole Travel Agency Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,600 cash in the company in

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On April 1, Oriole Travel Agency Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,600 cash in the company in exchange for common stock. 2. Paid $870 cash for April office rent. 3. Purchased office equipment for $2,980 cash. 4. Purchased $140 of advertising in the Chicago Tribune, on account. 5. Paid $350 cash for office supplies. 6. Performed services worth $12,700. Cash of $3,400 is received from customers, and the balance of $9,300 is billed to customers on account. 7. Paid $400 cash dividend. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $1,380, 10. Received $9,300 in cash from customers billed previously in transaction (6) Assets (1) 5 $ 5 5 (a) (3) (4) (5) (i) (m) (i) 5 +5 +5 Prepare a tatular and rik of the above transactions. include marcin oplanstiorn for any changes in Fetained Earnings. Afo entered for the air tiadar Asuet Liebility or Equity item that was aeduced

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

Step: 3

blur-text-image

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

Modern Accounting And Auditing Forms

Authors: Wendell

1st Edition

0882621769, 978-0882621760

More Books

Students also viewed these Accounting questions