Question

Selected transactions for Blue Spruce Corp. during its first month in business are presented below. Sept. 1 5 8 14 25 30 Issued common stock in exchange for $20,500 cash received from investors. Purchased equipment for $9,430, paying $2,590 in cash and the balance on account. Performed services on account for $18,000. Paid salaries of $1,200. Paid $3,140 cash on balance owed for equipment. Paid $640 cash dividend. (a) Complete a tabular analysis of the September transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particu Illustration 3-3 for example.) Assets = Liabilities Stockholders' Equity Retained Earnings Revenues - Expenses - ash + Accounts Receivable + Equipment = Accounts Payable + Common Stock + Dividends Sept. 1 Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30 . . . .

Answer 1

	Assets			Liabilities	Stockholders' equity
	Cash	Accounts receivable	Equipment	Accounts payable	Common stock	Revenues	Expenses	Dividends
Sep. 1	20,500				20,500
Sep. 5	- 2,590		9,430	6,840
Sep. 8		18,000				18,000
Sep. 14	- 1,200						- 1,200
Sep. 25	- 3,140			- 3,140
Sep. 30	- 640							- 640
Total	12,930	18,000	9,430	3,700	20,500	18,000	- 1,200	- 640

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