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The following are transactions of Albert Sing, an interior design consultant, for the month of September 2 0 2 3 . Sept. 1 Albert Sing
The following are transactions of Albert Sing, an interior design consultant, for the month of September
Sept. Albert Sing began business as an interior design consultant, investing $ for common shares of the
company, Sheffield Design Limited.
Purchased equipment from Green Jacket Co for $
Paid rent for office space for the next three months at $ per month.
Hired a parttime secretary Michael Bradley, at $ per week.
Purchased supplies on account from Mann Corp. for $
Received cash of $ from clients for services performed.
Paid office expenses, $
Invoiced clients for services rendered, $
Paid Mann Corp. on account, $
Paid a dividend of $ per share on the outstanding shares. Dividend paid are treated as financing activities.
Received $ from clients on account.
Paid Michael Bradley two weeks of salary, $
Invoiced clients for services rendered, $
Paid the September telephone bill of $ and office expenses of $
At September the following information is available:
The equipment has a useful life of five years and an estimated residual value of $ Straightline depreciation is
appropriate.
One week's salary is owing to Michael.
Supplies of $ remain on hand.
Two months of rent has been paid in advance.
The invoice for electricity for September of $ has been received, but not paid.
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