On April 1. Sunland Travel Agency Inc. was established. These transactions were completed during the month.
1.
Stockholders invested $31,000 cash in the company in exchange for common stock.
2.
Paid $590 cash for April office rent.
3.
Purchased office equipment for $2,900 cash.
4.
Purchased $130 of advertising in the Chicago Tribune, on account.
5.
Paid $370 cash for office supplies.
6.
Performed services worth $12,500. Cash of $3,500 is received from customers, and the balance of $9,000 is billed to
customers on account.
7.
Paid $580 cash dividend.
8.
Paid Chicago Tribune amount due in transaction (4).
9.
Paid employees' salaries $1,400.
10.
Received $9,000 in cash from customers billed previously in transaction (6).
Assets
Cash
Accounts Receivable
Supplies
Equipmer
(1)
31000
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Stockholders' Equity
Retained Earnings
Revenues
Expenses
Dividends
Liabilities
Equipment
Accounts Payable
Common Stock
Advertising Expense
Dividends
Rent Exp
Salaries and Wages Expense
Service Revenue
Revenues
$
