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Selected transactions for front room, an interior decorator
Exercise 3-7
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows.
1. |
Issued stock to investors for $16,300 in cash. |
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2. |
Purchased used car for $10,400 cash for use in business. |
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3. |
Purchased supplies on account for $310. |
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4. |
Billed customers $5,620 for services performed. |
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5. |
Paid $300 cash for advertising start of the business. |
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6. |
Received $1,460 cash from customers billed in transaction (4). |
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7. |
Paid creditor $330 cash on account. |
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8. |
Paid dividends of $320 cash to stockholders. |
Warning
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