Stockholders invested $10,000 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries for $14,000. Nancy paid $2,000 cash and signed a note payable for the remaining balance. Paid $500 for office rent for the month. Performed $4,800 of services on account. 9 Declared and paid $300 in cash dividends. 12 Purchased supplies for $150 on account. 15 Received a cash payment of $1.250 for services performed on June 5. 17 Purchased gasoline for $100 on account. 20 Received $1.500 cash for services performed. 23 Made a cash payment of $500 on the note payable.

Stockholders invested $10,000 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries for $14,000. Nancy paid $2,000 cash and signed a note payable for the remaining balance. Paid $500 for office rent for the month. Performed $4,800 of services on account. 9 Declared and paid $300 in cash dividends. 12 Purchased supplies for $150 on account. 15 Received a cash payment of $1.250 for services performed on June 5. 17 Purchased gasoline for $100 on account. 20 Received $1.500 cash for services performed. 23 Made a cash payment of $500 on the note payable.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 33P

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