1. Deposited $500,000 cash in the bank for use by business. 2. Purchased $20,000 supplies on account. 3. Purchased land for future repair site for $240,000 cash. 4. Paid $18,000 to creditors 5. Withrew $25,000 for personal use. 6. Paid $28,000 rent for the month. 7. Performed services on account $65,000 8. Paid utilities, $21,000 9. Recieved $28,000 cash for earned repair services 10. Paid salaries, $15,000
1. Deposited $500,000 cash in the bank for use by business. 2. Purchased $20,000 supplies on account. 3. Purchased land for future repair site for $240,000 cash. 4. Paid $18,000 to creditors 5. Withrew $25,000 for personal use. 6. Paid $28,000 rent for the month. 7. Performed services on account $65,000 8. Paid utilities, $21,000 9. Recieved $28,000 cash for earned repair services 10. Paid salaries, $15,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
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1. Deposited $500,000 cash in the bank for use by business.
2. Purchased $20,000 supplies on account.
3. Purchased land for future repair site for $240,000 cash.
4. Paid $18,000 to creditors
5. Withrew $25,000 for personal use.
6. Paid $28,000 rent for the month.
7. Performed services on account $65,000
8. Paid utilities, $21,000
9. Recieved $28,000 cash for earned repair services
10. Paid salaries, $15,000
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