Assets | = | Liabilities | + | Paid in capital | + | Retained earnings | |
1 | $440,000 | = | + | $440,000 | + | ||
2 | $51,000 | = | $51,000 | + | + | ||
3 | $134,000 | = | $134,000 | + | + | ||
4 | $76,000 | = | + | + | $76,000 | ||
5 | ($6,000) | = | + | + | ($6,000) | ||
6 | = | + | + | ||||
7 | ($114,000) | = | ($114,000) | + | + | ||
8 | = | + | + | ||||
9 | ($1,700) | = | + | + | ($1,700) | ||
Total | $579,300 | = | $71,000 | + | $440,000 | + | $68,300 |
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 56,000 shares of common stock in exchange for $560,000 in cash. 2. Purchased equipment at a cost of $92,000 $23,000 cash was paid and a notes payable to the seller was signed for the balance owed 3. Purchased inventory on account at a cost of $170,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 30,000 shares of no-par common stock in exchange for $300,000 in cash. Purchased equipment at a cost of $40,000. $10,000 cash was paid and a note payable to the seller was signed for the balance owed. Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system. Credit sales for the month totaled $120,000. The...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 42,000 shares of common stock in exchange for $420,000 in cash. 2. Purchased equipment at a cost of $64,000. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $128,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 44,000 shares of common stock in exchange for $440,000 in cash. Purchased equipment at a cost of $54,000. $17,000 cash was paid and a notes payable to the seller was signed for the balance owed. Purchased inventory on account at a cost of $106,000. The company uses the perpetual inventory system. Credit sales for the month totaled $190,000. The cost...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 38,000 shares of common stock in exchange for $380,000 in cash 2. Purchased equipment at a cost of $56,000. $14,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased Inventory on account at a cost of $116,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 48,000 shares of common stock in exchange for $480,000 in cash. 2. Purchased equipment at a cost of $58,000. $19,000 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $114,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 22.000 shares of common stock In exchange for $220,000 In cash. 2 Purchased equipment at a cost of $24,000. $6,000 cash was pald and a note payable was signed for the balance owed. 3. Purchased Inventory on account at a cost of $68,000. The company uses the perpetual Inventory system 4. Credit sales for the month totaled $80,000. The...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 44,000 shares of common stock in exchange for $440,000 in cash. 2. Purchased equipment at a cost of $68,000. $24,000 cash was paid and a note payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $118,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 50,000 shares of common stock in exchange for $500,000 in cash. Purchased equipment at a cost of $60,000. $20,000 cash was paid and a notes payable to the seller was signed for the balance owed. Purchased inventory on account at a cost of $118,000. The company uses the perpetual inventory system. Credit sales for the month totaled $220,000. The cost...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 41,000 shares of common stock in exchange for $410,000 in cash 2. Purchased equipment at a cost of $51,000. $15,500 cash was paid and a notes payable to the seller was signed for the balance owed. 3. Purchased Inventory on account at a cost of $100,000. The company uses the perpetual Inventory system. 4. Credit sales for the month...