WileyPLUS Kinmel Financdal Accounting ae I Essued shares of

WileyPLUS Kinmel, Financdal Accounting, ae I. Essued shares of common stock to investors in exchange for $150,000 in cash 6. Paid rent of $4,20o. see IMust Common Cash Payable Dividends (a) s O T Type here to search

Solution

Cash

Accounts receivable

Supplies

Equipment

Accounts payable

Bonds payable

common stock

Retained earnings

Revenues

Expenses

Dividends

1

$150,000

$150,000

Issued stock

2

$40,000

$40,000

3

($55,000)

$55,000

4

$17,000

($17,000)

5

$6,700

$6,700

6

($4,200)

$4,200

Rent expenses

7

$11,700

$11,700

Service revenue

8

($26,800)

$26,800

Salaries and wages expenses

9

($11,200)

$11,200

Dividends

Total

$109,800

($5,300)

$6,700

$55,000

$6,700

$40,000

$150,000

$11,700

$31,000

$11,200

	Cash	Accounts receivable	Supplies	Equipment	Accounts payable	Bonds payable	common stock	Retained earnings
								Revenues	Expenses	Dividends
1	$150,000						$150,000					Issued stock
2	$40,000					$40,000
3	($55,000)			$55,000
4	$17,000	($17,000)
5			$6,700		$6,700
6	($4,200)								$4,200			Rent expenses
7		$11,700						$11,700				Service revenue
8	($26,800)								$26,800			Salaries and wages expenses
9	($11,200)									$11,200		Dividends
Total	$109,800	($5,300)	$6,700	$55,000	$6,700	$40,000	$150,000	$11,700	$31,000	$11,200