During 2025, its first year of operations as a delivery service, Blossom Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $149,000 in cash. Borrowed $48,000 by issuing bonds. Purchased delivery trucks for $68,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,000 on account. 2. 3. 4. 5. 6. 7. 8. 9. Paid rent of $4,700. Performed services on account for $10,800. Paid salaries of $27,400. Paid a dividend of $11.100 to stockholders.
During 2025, its first year of operations as a delivery service, Blossom Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $149,000 in cash. Borrowed $48,000 by issuing bonds. Purchased delivery trucks for $68,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,000 on account. 2. 3. 4. 5. 6. 7. 8. 9. Paid rent of $4,700. Performed services on account for $10,800. Paid salaries of $27,400. Paid a dividend of $11.100 to stockholders.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1800
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Transcribed Image Text:During 2025, its first year of operations as a delivery service, Blossom Corp. entered into the following transactions.
Issued shares of common stock to investors in exchange for $149,000 in cash.
Borrowed $48,000 by issuing bonds.
Purchased delivery trucks for $68,000 cash.
Received $16,000 from customers for services performed.
Purchased supplies for $4,000 on account.
1.
2
3.
4.
5.
6.
7.
8.
9.
Paid rent of $4,700.
Performed services on account for $10,800.
Paid salaries of $27,400.
Paid a dividend of $11.100 to stockholders.
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