Question
Selected transactions for Expensive Designs Pty Ltd, an interior decorator corporation, in its first month of business, are as follows. 1.Issued shares to investors for
Selected transactions for Expensive Designs Pty Ltd, an interior decorator corporation, in its first month of business, are as follows.
1.Issued shares to investors for $10 000 in cash.
2.Purchased used car for $5 000 cash for use in business.
3.Purchased supplies on account for $500.
4.Invoiced customers $1 800 for services performed.
5.Paid $200 cash for advertising start of the business.
6.Received $700 cash from customers invoiced in transaction (4).
7.Paid creditor $300 cash on account.
8.Paid dividends of $400 cash to shareholders.
Journalise the transactions.
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