Received $19,000 cash from Conner in exchange for common stock. Dec. 1 2 Received $3,800 cash from customers for services performed. 5 Paid $200 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $4,500. Received $200 invoice for utilities due in two weeks. 10 Paid for advertising in the local paper, $250. 15 Paid utility invoice received on December 10. 20 Collected cash in full from customer billed on December 9. 25 Paid rent for the month, $1,600. 28 Paid $1,450 to assistant for wages. 28 Received $1,400 cash from customers for services performed. 30 Cash dividends of $3,500 were paid to stockholders. 31
Received $19,000 cash from Conner in exchange for common stock. Dec. 1 2 Received $3,800 cash from customers for services performed. 5 Paid $200 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $4,500. Received $200 invoice for utilities due in two weeks. 10 Paid for advertising in the local paper, $250. 15 Paid utility invoice received on December 10. 20 Collected cash in full from customer billed on December 9. 25 Paid rent for the month, $1,600. 28 Paid $1,450 to assistant for wages. 28 Received $1,400 cash from customers for services performed. 30 Cash dividends of $3,500 were paid to stockholders. 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Using the
Conner Thomas started a new business, Thomas Gymnastics, and completed the $21 500 following transactions during December:
Analyze the effects of the transactions on the accounting equation of Thomas Gymnastics using a format similar to Exhibit 1-6.
Transcribed Image Text:Received $19,000 cash from Conner in exchange for common stock.
Dec. 1
2 Received $3,800 cash from customers for services performed.
5 Paid $200 cash for office supplies.
9 Performed services for a customer and billed the customer for services
rendered, $4,500.
Received $200 invoice for utilities due in two weeks.
10
Paid for advertising in the local paper, $250.
15
Paid utility invoice received on December 10.
20
Collected cash in full from customer billed on December 9.
25
Paid rent for the month, $1,600.
28
Paid $1,450 to assistant for wages.
28
Received $1,400 cash from customers for services performed.
30
Cash dividends of $3,500 were paid to stockholders.
31
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