Accounting Problems

E3-4 A tabular analysis of the transactions do during coercive 2012 by Nigel participation during its first month of operations is shown below. Each vagabond up and decrease in stocktaking certificateholders justice is explained. Instructions (a) Describe each(prenominal) transaction. 1. The companionship issued shares of stock to stockholders for 20,000 property. 2. The play along purchased $4,000 of equipment on the accountancy and paying(a) $1,000 capital towards equipment. 3. The company purchased $750 in supplies with cash 4. participation gained $9,500 in retained earnings. $5,400 in accounts receivable and $4,100 in cash. 5. bon ton paid $1,500 cash toward accounts payable 6. partnership paid 2,000 cash toward dividends 7. Company paid $800 cash for rent 8. A retribution of $450 cash was make to accounts receivable 9. A pay of $3,000 cash was made for Sal. Expenses 10. $300 payment made from accounts payable for utilities (b) secure how more than stockholders equity increase for the month. The stockholders equity for the month Issued Stock- 20,000 usefulness Revenue- 9,500 Dividends- (2,000) Rent- (800) Salaries- (3,000) Utilities-(300) Increases in Stockholders Equity- 23,400 (c) Compute the internet income for the month. The net income for the month was $5,400 1. help revenue- 9,500 2. Rent-(800) 3. Salaries-(3,000) 4.

Utilities-(300) E3-9 The May transactions of StepAside mickle were as follows. May 4 gainful $700 due for supplies antecedently purchased on account. 7 Performed advisory services on account for $6,800. 8 Purchased supplies for $850 on account. 9 Purchased equipment for $1,000 in cash. 17 paid employees $530 in cash. 22 authorized bill for equipment repairs of $900. 29 Paid $1,200 for 12 months of insurance policy. reportage begins June 1. | Cash| Prepd Ins| A/R| fit out| A/P| Salaries| Rev| Exp| 4-May|...If you compulsion to get a panoptic essay, order it on our website: Orderessay

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