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The company pays cash for a piece of equipment. The listed price is $8,700 but after...

The company pays cash for a piece of equipment. The listed price is $8,700 but after haggling the purchase price was $8,300. The company earned revenues totaling $297,200. The cash was collected from clients for revenue earned throughout the year. The company’s expenses totaled $210,900 for the year. The expenses were paid in cash. The company paid out cash to their stockholders at the end of each quarter. The sum of these quarterly payments was $14,800.

Transactions

Assets

Liabilities

Stockholders’ Equity

Beginning

$0

$0

$0

Business Investment

$17,010

$17,010

Cash Borrowed

$7,860

Equipment Purchased

Earned Revenue

Expenses

Dividends
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Answer #1

Answer

Transactions Assets Liabilities Stockholders’ Equity
Beginning $0 $0 $0
Business Investment $17,010 $17,010
Cash Borrowed $7,860 $7,860
Equipment Purchased $0 $0 $0
Earned Revenue $297,200 $0 $297,200
Expenses ($210,900) $0 ($210,900)
Dividends (14800 x 4 quarters) ($59,200) $0 ($59,200)
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