On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April: Opened a business bank account with a deposit of $24,000 in exchange for common stock. Purchased supplies on account, $2,410. Paid creditor on account, $1,530. Earned sales commissions, receiving cash, $24,620. Paid rent on office and equipment for the month, $4,830. Paid dividends, $8,000. Paid automobile expenses for month, $2,310, and miscellaneous expenses, $1,110. Paid office salaries, $2,910. Determined that the cost of supplies on hand was $810; therefore, the cost of supplies used was $1,600.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April:

  1. Opened a business bank account with a deposit of $24,000 in exchange for common stock.
  2. Purchased supplies on account, $2,410.
  3. Paid creditor on account, $1,530.
  4. Earned sales commissions, receiving cash, $24,620.
  5. Paid rent on office and equipment for the month, $4,830.
  6. Paid dividends, $8,000.
  7. Paid automobile expenses for month, $2,310, and miscellaneous expenses, $1,110.
  8. Paid office salaries, $2,910.
  9. Determined that the cost of supplies on hand was $810; therefore, the cost of supplies used was $1,600.
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