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Selected transactions for Flint Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,800 cash
Selected transactions for Flint Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,800 cash received from investors. Purchased equipment for $8,690, paying $2,840 in cash and the balance on account. 5 8 Performed services on account for $19,900. 14 Paid salaries of $3,100. 25 Paid $3,120 cash on balance owed for equipment. 30 Paid $630 cash dividend. (a) Complete a tabular analysis of the September transactions. For transactions affecting stockholders' equity, provide explanations in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced. See Illustration 3-4 for example.) Assets Liabil Cash +Accounts Receivable + Equipment Accounts Pay Sept. 1 $ Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30 eTextbook and t $
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