Question details

ACC 290 Week 2 Individual Assignment Week Two Problems and Exercises 2
$ 15.00

Stockholders invested $20,000 cash in the business.

             2.       Purchased equipment for $5,000, paying $1,000 in cash and the balance of $4,000 on account.

             3.       Paid $750 cash for supplies.

             4.       Earned $9,500 in revenue, receiving $4,100 cash and $5,400 on
account.

             5.       Paid $1,500 cash on accounts payable.

             6.       Paid $2,000 cash dividends to stockholders.

             7.       Paid $800 cash for rent.

             8.       Collected $450 cash from customers on account.

             9.       Paid salaries of $3,000.

            10.       Incurred $300 of utilities expense on account.

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