Question

For each of the following items, indicate whether that item would be considered to be a transaction at Gerbig Pet Grooming Corporation Transaction? Item A customer, Layne Gracen, glves Gerbig a check for $620 to prepay for her dog's grooming appointments for the upcoming year. Gerbig pays $310 for last month's electric bill. Gerbig selects a new supplier for its shampoos and conditioners. The controller for Gerbig pays the bill for a catered lunch at its annual training event for employees. Gerbig files its articles of incorporation with the state. Gerbig acquires a new stainless steel tub by signing a note payable with PetStar, a supplier of pet grooming supplies and products. Maggie Cramer, a customer, signs a contract for next year's dog grooming with Gerbig. h. Gerbig pays its employees an annual bonus on December 31.

Answer 1

a	Yes
b.	yes
c	no
d	yes
e	no
f	yes
g	no
h	yes

transaction c is not a transaction since mere selection of a supplier will not result in any flow of amount.

Mere filing of articles of incorporation will not be a financial transaction.

Mere signing of agreement with no flow of cash will not result in a financial transaction.