Problem 1-78 Nina Niko launched a new business Niko's Maintenance Co. that began operations on June 1. The following transactions were completed by the company during that first month. June 1: Nina Niko invested $130.000 cash in the company in exchange for its common stock. June 2: The company rented a furnished office and paid $6,000 cash for June's rent. June 4: The company purchased $2,400 of equipment on credit. June 6: The company paid $1,150 cash for this month's advertising of the opening of the business. June 8: The company completed maintenance services for a customer and immediately collected $850 cash. June 14: The company completed $7,500 of maintenance services for City center on credit. June 16: The company paid $800 cash for an assistant's salary for the first half of the month. June 20: The company received $7,500 cash payment for services completed for City Center on June 14. June 21: The company completed $7,900 of maintenance services for Paula's Beauty Shop on credit. June 24: The company completed $675 of maintenance services for Build-It Coop on credit. June 25: The company received $7,900 cash payment from Paula's Beauty Shop for the work completed on June 21. June 26: The company made payment of $2,400 cash for equipment purchased on June 4. June 28: The company paid $800 cash for an assistant's salary for the second half of this month. June 29: The company paid $4,000 cash in divistends to the owner (sole shareholder). June 30: The company paid $150 cash for this month's telephone bill. June 30: The company paid $890 cash for this month's utilities. Identify the dollar amounts of each transaction on individual items of the accounting equation. The accounting equation individual items for assets are cash, accounts receivable, office supplies, office equipment, and office suite. The accounting items for Liabilities and Equity are accounts payable, common stock, dividends, revenues, and expenses. Refer to the image attached to organize the answer according to individual items of the accounting equation.
Problem 1-78
Nina Niko launched a new business Niko's Maintenance Co. that began operations on June 1. The following transactions were completed by the company during that first month.
June 1: Nina Niko invested $130.000 cash in the company in exchange for its common stock.
June 2: The company rented a furnished office and paid $6,000 cash for June's rent.
June 4: The company purchased $2,400 of equipment on credit.
June 6: The company paid $1,150 cash for this month's advertising of the opening of the business.
June 8: The company completed maintenance services for a customer and immediately collected $850 cash.
June 14: The company completed $7,500 of maintenance services for City center on credit.
June 16: The company paid $800 cash for an assistant's salary for the first half of the month.
June 20: The company received $7,500 cash payment for services completed for City Center on June 14.
June 21: The company completed $7,900 of maintenance services for Paula's Beauty Shop on credit.
June 24: The company completed $675 of maintenance services for Build-It Coop on credit.
June 25: The company received $7,900 cash payment from Paula's Beauty Shop for the work completed on June 21.
June 26: The company made payment of $2,400 cash for equipment purchased on June 4.
June 28: The company paid $800 cash for an assistant's salary for the second half of this month.
June 29: The company paid $4,000 cash in divistends to the owner (sole shareholder).
June 30: The company paid $150 cash for this month's telephone bill.
June 30: The company paid $890 cash for this month's utilities.
Identify the dollar amounts of each transaction on individual items of the
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