Lisa Anderson started her own consulting firm, Anderson Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 17 20 23 26 29 30 Stockholders invested $19,500 cash in the business in exchange for common stock. Paid $780 for office rent for the month. Purchased $650 of supplies on account. Paid $195 to advertise for the month in the County News. Performed services for customer for $1,820 cash. 4 Paid $260 cash dividend. Performed $5,460 of services on account. Paid $3,250 for employee salaries. Paid for the supplies purchased on account on May 3. Received a cash payment of $1,560 for services performed on account on May 15. Borrowed $6,500 from the bank on a note payable. Purchased office equipment for $2,600 paying $260 in cash and the balance on account. Paid $244 for utilities.

Lisa Anderson started her own consulting firm, Anderson Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 17 20 23 26 29 30 Stockholders invested $19,500 cash in the business in exchange for common stock. Paid $780 for office rent for the month. Purchased $650 of supplies on account. Paid $195 to advertise for the month in the County News. Performed services for customer for $1,820 cash. 4 Paid $260 cash dividend. Performed $5,460 of services on account. Paid $3,250 for employee salaries. Paid for the supplies purchased on account on May 3. Received a cash payment of $1,560 for services performed on account on May 15. Borrowed $6,500 from the bank on a note payable. Purchased office equipment for $2,600 paying $260 in cash and the balance on account. Paid $244 for utilities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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July 1 July 1 July 3 July 5 July 12 July 18 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Maintenance and Repairs Expense Supplies Expense Depreciation Expense 14,400 5520 1080 2160 9600 350 2400 6480 744C 1440C
Provide a ledger account instead!
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