Question

Issued capital stock for $50,000 cash. #1 +50,00 (cash) +50, 000 (capital stock) Purchased building for $120,000, making a $20,000 down payment and signing a promissory note payable for the balance. #2 Paid wages expense of $5,000. #3 Provided services to customers for $15,000 cash. #4 Paid utilities expense of $2,000. #5 Reduced note payable with an $8,000 cash payment (ignore interest costs). #6 Provided services to customers on account, $10,000. #7 Incurred wages expense of $3,000, to be paid in the future. #8 Collected $4,000 on an outstanding account receivable. #9 Declared and paid dividend of $6,000. #10

          Issued capital stock for $50,000 cash.
#1
+50,00 (cash)
+50, 000 (capital stock)
Purchased building for $120,000, making a $20,000
down payment and signing a promissory note payable for the
balance.
#2
Paid wages expense of $5,000.
#3
Provided services to customers for $15,000
cash.
#4
Paid utilities expense of $2,000.
#5
Reduced note payable with an $8,000 cash payment
(ignore interest costs).
#6
Provided services to customers on account,
$10,000.
#7
Incurred wages expense of $3,000, to be paid in the
future.
#8
Collected $4,000 on an outstanding account
receivable.
#9
Declared and paid dividend of $6,000.
#10

issued capital stock for 50000 cash 1 5000 cash 50 000 capital stock purchased building for 120000 making a 20000 down payment and signing a promissory note payable for the balance 2 paid wa 92101

Added by Lisa V.

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