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VC Selected transactions for Wildhorse Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for
VC Selected transactions for Wildhorse Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $22,000 cash. 2 Paid $1,400 cash for rent for the month of September 5 Purchased equipment for $10,900, paying $1,800 in cash and the balance on account. 8 Earned $7,500 in revenue, receiving $1,100 cash and $6,400 on account of services provided. 12 Incurred $600 in advertising expense on account. 20 Paid $3,000 for repairs and maintenance expenses, 25 Paid $4,900 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $900. 30 Declared and paid a $500 cash dividend. Selected transactions follow for Roger Sports Ltd. during the company's first month of business. The company uses a perpetual inventory system Feb. 2 Sold $1,129 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Roger $768. 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Roger $86 and they were returned to inventory. 5 Sold $756 of merchandise to Dong Corporation on account, terms 2/10, 1/30. The goods had cost Roger $489. 8 Sold $842 of merchandise to Michael Collins for cash. The goods had cost Roger $626. 10 Sold $913 of merchandise to Rafik Kurji, who paid with a credit card. The goods had cost Roger $677. 14 Dong Corporation paid its account in full. 17 Andrew Noren purchased an additional $696 of merchandise on account, terms 1/30. The goods had cost Roger $414. 22 Sold $1,750 of merchandise to Batstone Corporation on account, terms 2/10, 1/30. The goods had cost Roger $1.114. 28 Andrew Noren paid on account. VC Selected transactions for Wildhorse Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $22,000 cash. 2 Paid $1,400 cash for rent for the month of September 5 Purchased equipment for $10,900, paying $1,800 in cash and the balance on account. 8 Earned $7,500 in revenue, receiving $1,100 cash and $6,400 on account of services provided. 12 Incurred $600 in advertising expense on account. 20 Paid $3,000 for repairs and maintenance expenses, 25 Paid $4,900 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $900. 30 Declared and paid a $500 cash dividend. Selected transactions follow for Roger Sports Ltd. during the company's first month of business. The company uses a perpetual inventory system Feb. 2 Sold $1,129 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Roger $768. 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Roger $86 and they were returned to inventory. 5 Sold $756 of merchandise to Dong Corporation on account, terms 2/10, 1/30. The goods had cost Roger $489. 8 Sold $842 of merchandise to Michael Collins for cash. The goods had cost Roger $626. 10 Sold $913 of merchandise to Rafik Kurji, who paid with a credit card. The goods had cost Roger $677. 14 Dong Corporation paid its account in full. 17 Andrew Noren purchased an additional $696 of merchandise on account, terms 1/30. The goods had cost Roger $414. 22 Sold $1,750 of merchandise to Batstone Corporation on account, terms 2/10, 1/30. The goods had cost Roger $1.114. 28 Andrew Noren paid on account
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