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Significant Technologies Corporation had the following transactions in the month of August. Significant Technologies received $100,000 cash in exchange for shares of Significant Technologies' common
Significant Technologies Corporation had the following transactions in the month of August.
- Significant Technologies received $100,000 cash in exchange for shares of Significant Technologies' common stock.
- Purchased store equipment for $11,000 cash.
- Provided services for cash of $9,000.
- Provided services on credit for $20,000.
- Received bill and paid utilities of $5,000.
- Paid sales salaries of $8,000. Ignore withholding and related payroll taxes.
- Incurred legal fees of $6,000 to be paid later.
- Declared and paid dividends to stockholders of $2,000.
- Collected $15,000 for services to be provided over the coming year but has not yet provided those services
- Paid $12,000 for a three-year insurance policy with coverage starting on September 1.
- Paid $1,000 for rental of some servers which will be returned to the leasing company on August 30th.
- Collected $10,000 from the transaction described in part D.
- Paid $6,000 of the amount owed for legal fees incurred in the transaction described in part G.
If you were to record these transactions in proper form, what is the amount of income based on the unadjusted trial balance? $
If beginning stockholders' equity was $200,000, what is the total of stockholders equity if a balance sheet was prepared based on the unadjusted trial balance? $
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