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Selected transactions for Pina, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $14,000
Selected transactions for Pina, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $14,000 in cash. 2. Purchased used car for $10,100 cash for use in business. 3. Purchased supplies on account for $260. 4. Billed customers $5,010 for services performed. 5. Paid $160 cash for advertising at the start of the business. 6. Received $1,150 cash from customers billed in transaction (4). 7. Paid creditor $250 cash on account. 8. Paid dividends of $380 cash to stockholders.
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