Question
On April 1, Shamrock Travel Agency Inc, was established. These transactions were completed during the month. 1) Stockholders invested $27,000 cash in the company in
On April 1, Shamrock Travel Agency Inc, was established. These transactions were completed during the month.
1) Stockholders invested $27,000 cash in the company in exchange for common stock
2) Paid $180 cash for April office rent.
3) Purchase office equipment for $3,060 cash.
4) Purchase $180 of advertising for the month in the Chicago Tribune, on account.
5) Paid $450 cash for office supplies
6) Performed services worth $10,800. Cash of $2,700 is received from customers and the balance of $8,100 is billed to customers on account.
7) Paid $360 cash dividend.
8) Paid Chicago Tribune amount due in transaction (4).
9) Paid employees salaries $1,620.
10) Received $8,100 in cash from customers billed previously in transaction (6).
Prepare a tabular analysis of the above transactions. Include margin explanations for any changes in revenues or expenses. (If a transaction result in a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced)
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