! Required information [The following information applies to the questions displayed below.] Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of October 2 Receive membership dues for the month of October totaling $8,500 5 Issue common stock in exchange for cash, $12,000 9 Purchase additional boxing equipment for $9,600, paying one--half of the amount in cash and issuing a note payable to the seller for the other one-half due by the end of the year. 1. October 2. October 3. October 4. October 12 Pay $1,500 for advertising regarding a special membership rate available during the month of October 5. October 19 Pay dividends to stockholders, $4,400. 6. October 22 Pay liability insurance to cover accidents to members for the next six months, starting November 1, $6,900. 7. October 25 Receive cash in advance for November memberships, $5,600 8. October 30 Receive, but do not pay, utilities bill for the month, $5,200. 9. October 31 Pay employees' salaries for the month, $7,300. 2. Identify the transactions involving cash. (Select all that apply.)
! Required information [The following information applies to the questions displayed below.] Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of October 2 Receive membership dues for the month of October totaling $8,500 5 Issue common stock in exchange for cash, $12,000 9 Purchase additional boxing equipment for $9,600, paying one--half of the amount in cash and issuing a note payable to the seller for the other one-half due by the end of the year. 1. October 2. October 3. October 4. October 12 Pay $1,500 for advertising regarding a special membership rate available during the month of October 5. October 19 Pay dividends to stockholders, $4,400. 6. October 22 Pay liability insurance to cover accidents to members for the next six months, starting November 1, $6,900. 7. October 25 Receive cash in advance for November memberships, $5,600 8. October 30 Receive, but do not pay, utilities bill for the month, $5,200. 9. October 31 Pay employees' salaries for the month, $7,300. 2. Identify the transactions involving cash. (Select all that apply.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[The following information applies to the questions displayed below.]
Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of
October
2 Receive membership dues for the month of October totaling $8,500
5 Issue common stock in exchange for cash, $12,000
9 Purchase additional boxing equipment for $9,600, paying one--half of the amount in cash and
issuing a note payable to the seller for the other one-half due by the end of the year.
1. October
2. October
3. October
4. October 12 Pay $1,500 for advertising regarding a
special membership rate available during the month of
October
5. October 19 Pay dividends to stockholders, $4,400.
6. October 22 Pay liability insurance to cover accidents to members for the next six months, starting
November 1, $6,900.
7. October 25 Receive cash in advance for November memberships, $5,600
8. October 30 Receive, but do not pay, utilities bill for the month, $5,200.
9. October 31 Pay employees' salaries for the month, $7,300.
2. Identify the transactions involving cash. (Select all that apply.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40%2F15e6b728-c232-46d4-b27c-c6dfc9b29044%2F20jdevu.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of
October
2 Receive membership dues for the month of October totaling $8,500
5 Issue common stock in exchange for cash, $12,000
9 Purchase additional boxing equipment for $9,600, paying one--half of the amount in cash and
issuing a note payable to the seller for the other one-half due by the end of the year.
1. October
2. October
3. October
4. October 12 Pay $1,500 for advertising regarding a
special membership rate available during the month of
October
5. October 19 Pay dividends to stockholders, $4,400.
6. October 22 Pay liability insurance to cover accidents to members for the next six months, starting
November 1, $6,900.
7. October 25 Receive cash in advance for November memberships, $5,600
8. October 30 Receive, but do not pay, utilities bill for the month, $5,200.
9. October 31 Pay employees' salaries for the month, $7,300.
2. Identify the transactions involving cash. (Select all that apply.)
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