The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider...
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The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. a. On September 1, Pat contributed $10,000 for 1,000 shares of OCC b. On September 8, OCC borrowed $24,000 from a bank, promising to repay the bank in two years. c. On September 10, OCC wrote a check for $29,000 to acquire computer equipment. d. On September 15, OCC received $2,800 of supplies purchased on account. e. On September 16, OCC paid $1,450 for September rent. f. Through September 22, OCC provided its customers $12,850 of services, of which OCC collected $7,200 in cash, g. On September 28, OCC paid $460 for Internet and phone service this month. h. On September 29, OCC paid wages of $5,600 for the month. On September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $380. This amount will be paid on October 14 through a preauthorized online payment The following events occurred soon after Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. a. On September 1, Pat contributed $10,000 for 1,000 shares of OCC b. On September 8, OCC borrowed $24,000 from a bank, promising to repay the bank in two years. c. On September 10, OCC wrote a check for $29,000 to acquire computer equipment. d. On September 15, OCC received $2,800 of supplies purchased on account. e. On September 16, OCC paid $1,450 for September rent. f. Through September 22, OCC provided its customers $12,850 of services, of which OCC collected $7,200 in cash, g. On September 28, OCC paid $460 for Internet and phone service this month. h. On September 29, OCC paid wages of $5,600 for the month. On September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $380. This amount will be paid on October 14 through a preauthorized online payment
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