Selected transactions for Carla Vista Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,800 cash received from investors. 5 Purchased equipment for $8.690, paying $2.840 in cash and the balance on account. 8 Performed services on account for $19.900. 14 Paid salaries of $3,100. 25 Paid $3,120 cash on balance owed for equipment. 30 Paid $630 cash dividend Your answer is partially correct Complete a tabular analysis of the September transactions. For transactions affecting stockholders' equity, provide explanations in the far-right column. (If a transaction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced)
Selected transactions for Carla Vista Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $18,800 cash received from investors. 5 Purchased equipment for $8.690, paying $2.840 in cash and the balance on account. 8 Performed services on account for $19.900. 14 Paid salaries of $3,100. 25 Paid $3,120 cash on balance owed for equipment. 30 Paid $630 cash dividend Your answer is partially correct Complete a tabular analysis of the September transactions. For transactions affecting stockholders' equity, provide explanations in the far-right column. (If a transaction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Selected transactions for Carla Vista Corporation during its first month in business are presented below.
Sept. 1
Issued common stock in exchange for $18,800 cash received from investors.
(a)
5
Purchased equipment for $8.690. paying $2.840 in cash and the balance on account.
8
Performed services on account for $19.900.
Paid salaries of $3,100.
25
Paid $3,120 cash on balance owed for equipment.
30
Paid $630 cash dividend.
Your answer is partially correct
Complete a tabular analysis of the September transactions. For transactions affecting stockholders' equity, provide explanations
in the far-right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or
parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced)
Assets
Cashi
Sept. 1
18800
Accounts Receivable
Sept. 5
-2840
0
Sept. 8
-19900
19900
111111
Sept. 14
Sept. 25
Sept. 30
3100
-3120
°
0
(b)
eTextbook and Media
List of Accounts
Equipment
8690
0
°
9110
$
19900
8690
Attempts: 2 of 2 used
Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account
titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the
problem. List all debit entries before credit entries)
Date
Account Titles and Explanation
eTextbook and Media
List of Accounts
Save for Later
Debit
Credit
Attempts: 0 of 2 used Submit Answer
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