Homework Answers
Explanation :
A) Owners invested in the business for Common stock will increase the total common stock held with the firm. Results of investment in common stock will increase the total cash balance.
B) Cash dividend paid out off cash so Assets will reduce, Payment will reduce the Dividend payables which appears on Current Liabilities
C) When Service billed raised, accrued (Outstanding income ) REcorded as accounts receivable and appeared as Assets. in the event of cash received. Cash will increase but Accounts receivables will reduce with the same amount.
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3
Purchased used car for $8,200 cash for use in the
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9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $780 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance...
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Jan. 2
Invested $15,000 cash in the business in exchange for common
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3
Purchased used car for $8,200 cash for use in the
business.
9
Purchased supplies on account for $500.
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Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $780 cash from customers billed on January 11.
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Paid creditor $300 cash on balance...
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