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Shamrock Company, a computer services company, entered into these transactions during May, its first month of operations. 1. Stockholders invested $44,800 in the business in
Shamrock Company, a computer services company, entered into these transactions during May, its first month of operations. 1. Stockholders invested $44,800 in the business in exchange for common stock of the company. 2. Purchased computers for office use (recorded as Equipment) for $33,600 from Ladd Co. on account. 3. Paid $4,480 cash for May rent on storage space. 4. Performed computer services worth $21,280 on account. 5. Performed computer services for Wharton Construction Company for $5,600 cash. 6. Paid Western States Power Co. $8,960 cash for energy usage in May. 7. Paid Ladd Co. for the computers purchased in (2). 8. Incurred advertising expense for May of $1,456 on account. 9. Received $13,440 cash from customers for contracts billed in
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