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Paula has formed her own pool service and supply company. She has decided to incorporate the business to limit her legal liability. She invests $39,000
Paula has formed her own pool service and supply company. She has decided to incorporate the business to limit her legal liability. She invests $39,000 of her own savings and receive 3,000 shares of common stock. Her first month of operations results in the following amounts at the end of the month, March 31: Cash in bank, $13,800; amounts due from customers for services rendered, $4,200; pool supplies inventory, $16,800; net PPE, $29,900 (and $5,000 in accumulated depreciation using straight-line
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