Business, 11.09.2021 01:10 texaslady36
Nona Curry started her own consulting firm, Metlock, Inc., on May 1, 2022. The following transactions occurred during the month of May.
May 1 Stockholders invested $18,750 cash in the business in exchange for common stock.
2 Paid $750 for office rent for the month.
3 Purchased $625 of supplies on account.
5 Paid $187 to advertise in the County News.
9 Received $ 1,750 cash for services performed.
12 Paid $250 cash dividend.
15 Performed $ 5,250 of services on account.
17 Paid $3,125 for employee salaries.
20 Paid for the supplies purchased on account on May 3.
23 Received a cash payment of $ 1,500 for services performed on account on May 15.
26 Borrowed $6,250 from the bank on a note payable.
29 Purchased office equipment for $2,500 paying $250 in cash and the balance on account.
30 Paid $ 225 for utilities.
Required:
Shows the effects of the above transaction on the accounting equation.
Answers: 3
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Nona Curry started her own consulting firm, Metlock, Inc., on May 1, 2022. The following transaction...
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