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Selected transactions for Oriole Company during its first month in business are presented below. Sept. 1 5 25 Stockholders invested $12,500 cash in the
Selected transactions for Oriole Company during its first month in business are presented below. Sept. 1 5 25 Stockholders invested $12,500 cash in the business in exchange for common stock. Purchased equipment for $11,300 paying $5,900 in cash and the balance on account. Paid $2,220 cash on balance owed for equipment. 30 Declared and paid a $760 cash dividend. Oriole's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Common Stock, and No. 332 Dividends.
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