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PR 14A On March 1, 2008, Ginny Tyler established Seltzer Realty. Ginny completed the following transactions during the month of March: a. Opened a business
PR 14A On March 1, 2008, Ginny Tyler established Seltzer Realty. Ginny completed the following transactions during the month of March: a. Opened a business bank account with a deposit of $30,000 in exchange for capital stock. b. Purchased supplies (pens, file folders, paper, etc.) on account, $2,650. c. Paid creditors on account, $1,500. d. Earned sales commissions, receiving cash, $36,750. e. Paid rent on office and equipment for the month, $5,200. f. Paid dividends of $8,000. g. Paid automobile expenses (including rental charge) for month, $2,500, and miscellaneous expenses, $1,200. h. Paid office salaries, $9,250. i. Determined that the cost of supplies on hand was $900; therefore, the cost of supplies used was $1,750
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