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Oriole Company was started on May 1. A summary of May transactions is presented as follows. 1. 2. 3. 4. 5. 6. 7. 8. 9.
Oriole Company was started on May 1. A summary of May transactions is presented as follows. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Stockholders invested $16,000 cash in the business in exchange for common stock. Purchased equipment for $4,500 cash. Paid $200 cash for May office rent. Paid $400 cash for supplies. Incurred $250 of advertising costs in the Beacon News on account. Received $4,600 in cash from customers for repair service. Declared and paid a $1,100 cash dividend. Paid part-time employee salaries $1,200. Paid utility bills $130. Performed repair services worth $1,030 on account. Collected cash of $110 for services billed in transaction (10). K
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