Question
Selected transactions forTherow Corporationduring its first month in business are presented below. Sept. 1Issued common stock in exchange for $20,000cash received from investors. Sept. 5Purchased
Selected transactions forTherow Corporationduring its first month in business are presented below.
Sept. 1Issued common stock in exchange for $20,000cash received from investors.
Sept. 5Purchased equipment for $9,000, paying $3,000in cash and the balance on account.
Sept. 8Performed services on account for $18,000.
Sept. 14Paid salaries of $1,200.
Sept. 25Paid $4,000cash on balance owed for equipment.
Sept. 30Paid $500cash dividend.
a. Journalize the transactions.
b. Post the transactions to T-accounts.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
