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Selected transactions for Carla Vista Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for
Selected transactions for Carla Vista Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $18,000 cash. 2 Paid $1,500 cash for rent for the month of September. 5 Purchased equipment for $9,600, paying $2,000 in cash and the balance on account. 8 Earned $6,600 in revenue, receiving $900 cash and $5.700 on account of services provided. 25 27 30 22228 12 Incurred $500 in advertising expense on account. 20 Paid $3,200 for repairs and maintenance expenses. Paid $5,200 cash on balance owed for equipment. Incurred and paid income taxes for the month amounting to $700. Declared and paid a $600 cash dividend. Post the transactions to T accounts. (Post entries in the order presented in the problem.) Cash 9/1 9/5 9/8 Bal. Accounts Receivable 5700 9/8 5700 9/8 Equipment 9/5 9600 9/5 Accounts Payable 9600 Common Shares Dividends Declared Service Revenue Rent Expense Repairs and Maintenance Expense Income Tax Expense Advertising Expense 9/12- 500 9/12- -500
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