Question
Stockholders invested $50,000 cash in exchange for common stock Purchased office equipment costing $15,000. A cash payment of $5,000 was made immediately; the remainder will
Stockholders invested $50,000 cash in exchange for common stock
Purchased office equipment costing $15,000. A cash payment of $5,000 was made immediately; the remainder will be paid in 3 months.
Signed a 1-year rental agreement on an office; paid $12,000 cash in advance for the first six months.
Purchased basic office supplies for $1,200 on account.
Earned $20,000 on an advertising service that has been completed$10,000 cash and the balance on account. |
Hired a secretary who will be paid a monthly salary of $2,500.
Collected $10,000 for an advertising service that will be rendered over the next two months.
Received $5,000 from customers in payment of accounts receivable. Made a cash payment of $300 for utility bills received Paid $2,000 dividends to shareholders. |
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