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On September 1 of the current year, Joy Tucker established a business to manage rental property. She completed the following transactions during September: Opened a

On September 1 of the current year, Joy Tucker established a business to manage rental property. She completed the following transactions during September:

  1. Opened a business bank account with a deposit of $37,000 in exchange for common stock.
  2. Purchased office supplies on account, $3,480.
  3. Received cash from fees earned for managing rental property, $9,650.
  4. Paid rent on office and equipment for the month, $4,270.
  5. Paid creditors on account, $1,580.
  6. Billed customers for fees earned for managing rental property, $7,910.
  7. Paid automobile expenses for month, $950, and miscellaneous expenses, $470.
  8. Paid office salaries, $3,010.
  9. Determined that the cost of supplies on hand was $2,060; therefore, the cost of supplies used was $1,420.
  10. Paid dividends $2,850.

image text in transcribed image text in transcribed

Assets = Liabilities + Stockh Item Cash + + Supplies + Dividends + Rent Accounts Receivable Accounts Payable Common Stock Fees Earned Expense a. b. Bal. Bal. d. Bal. e. Bal. f. Bal. g. Bal. h. Bal. i. Bal. j. Bal. Assets = Liabilities + Stockh Item Cash + + Supplies + Dividends + Rent Accounts Receivable Accounts Payable Common Stock Fees Earned Expense a. b. Bal. Bal. d. Bal. e. Bal. f. Bal. g. Bal. h. Bal. i. Bal. j. Bal

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