Selected transactions for Marigold Corp. during its first month in business are presented below. Issued common stock in exchange for $18,200 cash received from investors. Sept. 1 Purchased equipment for $9,270, paying $2,810 in cash and the balance on account. Performed services on account for $18,000. 8 Paid salaries of $1,200. 14 Paid $2,650 cash on balance owed for equipment. 25 Paid $720 cash dividend. 30 (a) Complete a tabular analysis of the September transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Stockholders' Equity Assets Liabilities Retained Earnings = Accounts Payable + Common Stock + + Accounts Receivable + Equipment Cash Revenues Expenses Dividends Sept. 1 $ Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30 $4 $4 $4
Selected transactions for Marigold Corp. during its first month in business are presented below. Issued common stock in exchange for $18,200 cash received from investors. Sept. 1 Purchased equipment for $9,270, paying $2,810 in cash and the balance on account. Performed services on account for $18,000. 8 Paid salaries of $1,200. 14 Paid $2,650 cash on balance owed for equipment. 25 Paid $720 cash dividend. 30 (a) Complete a tabular analysis of the September transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Stockholders' Equity Assets Liabilities Retained Earnings = Accounts Payable + Common Stock + + Accounts Receivable + Equipment Cash Revenues Expenses Dividends Sept. 1 $ Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30 $4 $4 $4
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter2: Analyzing Transactions: The Accounting Equation
Section: Chapter Questions
Problem 4SEB: EFFECTS OF TRANSACTIONS (BALANCE SHEET ACCOUNTS) Jon Wallace started a business. During the first...
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