Question
The company pays cash for a piece of equipment. The listed price is $8,700 but after haggling the purchase price was $8,300. The company earned
The company pays cash for a piece of equipment. The listed price is $8,700 but after haggling the purchase price was $8,300. The company earned revenues totaling $297,200. The cash was collected from clients for revenue earned throughout the year. The companys expenses totaled $210,900 for the year. The expenses were paid in cash. The company paid out cash to their stockholders at the end of each quarter. The sum of these quarterly payments was $14,800.
Transactions | Assets | Liabilities | Stockholders Equity |
Beginning | $0 | $0 | $0 |
Business Investment | $17,010 |
| $17,010 |
Cash Borrowed |
| $7,860 |
|
Equipment Purchased |
|
|
|
Earned Revenue |
|
|
|
Expenses |
|
|
|
Dividends |
|
|
|
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