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Selected transactions for Cullumber Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $18,000
Selected transactions for Cullumber 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 $9,300, paying $2,100 in cash and the balance on account. 8 Earned $7,100 in revenue, receiving $900 cash and $6,200 on account of services provided. 12 Incurred $600 in advertising expense on account. 20 Paid $2,700 for repairs and maintenance expenses. 25 Paid $5,500 cash on balance owed for equipment 27 Incurred and paid income taxes for the month amounting to $800. 30 Declared and paid a $600 cash dividend. (a) Prepare an equation analysis of the September transactions. Use the following format. Of an amount duons that count balance then ter with a gives preceding the number es -15,000 or in parenthesis (15,0001) Assets Liabilities Share Accounts Receivable Cash Equipment Accounts Payable Common Shares + Revenus Sept 1 Sept. 2 Sept. 5 Sept. 8 Sept. 12 Sept. 20 Sept. 25 Sept. 27 Sept 30
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