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Required information [The following information applies to the questions displayed below.] The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as
Required information [The following information applies to the questions displayed below.] The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. a. On September 1, Pat contributed $18,000 for 1,800 shares of OC. b. On September 8 , OCC borrowed $31,500 from a bank, promising to repay the bank in two years. c. On September 10, OCC wrote a check for $22,000 to acquire computer equipment. d. On September 15, OCC received $1,200 of supplies purchased on account. e. On September 16, OCC paid $1,850 for September rent. f. Through September 22, OCC provided its customers $9,750 of services, of which OCC collected $7,600 in cash. g. On September 28 , OCC paid $670 for Internet and phone service this month. h. On September 29 , OCC paid wages of $4,900 for the month. i. On September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $510. This amount will be paid on October 14 through a preauthorized online payment. Required: 1. Indicate the accounting equation effects of the September events, using table below. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.)
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