Nathanson Corporation was organized on May 1. The following events occurred during the first month.

(a) Received $66,000 cash from the five investors who organized Nathanson Corporation. Each investor received 102 shares of $10 par value common stock.

(b) Ordered store fixtures costing $16,000.

(c) Borrowed $12,000 cash and signed a note due in two years.

(d) Purchased $20,000 of equipment, paying $1,900 in cash and signing a six-month note for the balance.

(e)Lent $1,600 to an employee who signed a note to repay the loan in three months.

(f) Received and paid for the store fixtures ordered in (b).

Required:

Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Aprofessional does specialized work that's primarily: degree based. medical or legal. well paying. intellectual and creative

The following are the current month's balances for abc financial services, inc. before preparing the trial balance. accounts payable $ 10,000 revenue 6,000 cash 3,000 expenses 17,500 furniture 10,000 accounts receivable 14,000 common stock ? notes payable 6,500 what amount should be shown for common stock on the trial balance? a. $48.000b. $12.500c. $27.000d. $28.000