W Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its...

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W Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $61,000 cash and equipment valued at $35,000 in the company in exchange for its common stock. b. The company purchased a building for $40,000 cash. c. The company purchased equipment for $6,000 cash. d. The company purchased $3,400 of supplies and $1,300 of equipment on credit. e. The company paid $870 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $5,000 for the service. g. The company designed a financial plan for another client and immediately collected a $8,500 cash fee. h. The company paid $1,300 cash in dividends to the owner (sole shareholder). 1. The company received $4,000 cash as partial payment from the client described in transaction f J. The company made a partial payment of $650 cash on the equipment purchased in transaction d. k. The company paid $2,200 cash for the secretary's wages for this period. Prev 1 of 3 Next > AAMA W Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $61,000 cash and equipment valued at $35,000 in the company in exchange for its common stock. b. The company purchased a building for $40,000 cash. c. The company purchased equipment for $6,000 cash. d. The company purchased $3,400 of supplies and $1,300 of equipment on credit. e. The company paid $870 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $5,000 for the service. g. The company designed a financial plan for another client and immediately collected a $8,500 cash fee. h. The company paid $1,300 cash in dividends to the owner (sole shareholder). 1. The company received $4,000 cash as partial payment from the client described in transaction f J. The company made a partial payment of $650 cash on the equipment purchased in transaction d. k. The company paid $2,200 cash for the secretary's wages for this period. Prev 1 of 3 Next > AAMA