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Selected transactions for Novak Corp. during its first month in business are presented below Issued common stock in exchange for $18,700 cash received from investors.
Selected transactions for Novak Corp. during its first month in business are presented below Issued common stock in exchange for $18,700 cash received from investors. Purchased equipment for $8,810, paying $2,910 in cash and the balance on account. Sept. 1 5 8 Performed services on account for $18,000 14 Paid salaries of $1,200 25 Paid $3,320 cash on balance owed for equipment. 30 Paid $560 cash dividend Complete a tabular analysis of the September transactions. (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 3-3 for example) Assets Liabilities+ Stockholders' Equity Retained Earnings Cash Accounts Receivable EquipmentAccounts Payable +Common Stock RevenuesExpenses Dividends Sept. 1 $ Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30
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