Question

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These are the business transactions for Senata Corporation during its first month 1- Investment of cash by stockholders S500 2- Purchase of equipment for cash $250 3- Note issued in exchange of cash $200 4. Services rendered $600 of which $400 were collected in cash. 5- Receipt of cash in advance from customers $60 6- Payment of the month rent $50 7- Purchase of six month insurance policy $30 8. Purchase of supplies on credit $90 9. Payment of dividends $25 10-Payment of wages $300 Cash Acc. Receiv. Assets Supplies Prepaid Equp. Insura Liabilities Acc. Payable Notes Unearned Payable Revenue + Stockholders' Equity + Com Retained Earnings Stock +Rev. - Exp. -Divid. + 50 500 50D 3 500 - 250 B, 250 + 200 co Bi uso 200 500

Answer 1

& quity i Stockholder's Assets Liabilities cash AIR Supplpsepçup Al NO9 Uneamed commRetaineg Lain Nolej Uneamed comm lies Insud. stock trev -EXP - Payable payable Revenue 1-DIU It 500 +500 Bal + 500 4500 21-250 +250 Bol 250 250 500 3 200 + 200 Bol 4.50 2 so 200 soo 4 +400 200 +600 Ba) 850 2001 250 200 soo 600 5 +60 +60 Bal 910 200 250 200 60 500 600 6-50 1-50 Bal +860 200 250 200 60 soo 600 -so 7-30 1+30 Bl 830 600 30 250 200 60 500 600 - SO 190 90 130 830 200 90 30 250 90 200 60 500 600 -sol 9 - 25 -25 Bal 805 200 90 30 250 = 90 200 60 500 600 -50 1-25 10 -300 -300 301 505 200 90 30 250 = 90 200 60 tsoo 600 - 350-2500

FOO unde standing PU pose am PYD viding JOUmojentales pate Account Name cash To common stock Debit caedit $ 500 FSOO $ 250 Equipment TO cash $ 250 W cash TO Notes payable $ 200 $ 200 cash Account Receivable 10 Senice Revenue $ 400 $ 200 $ 600 cash S60 TO One amed Revenue + 60 SO Rent expense To cash & so 30 Paepaid Insurance TO cash & 30 $ 90 supplies TO Accounts payable 90 bividend TO cash $125 5300 wages TO cash $300