Question

CALA CE Exercise 3-15 Selected transactions for Founder Corp, during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $21.900 cash received from investors. 5 Purchased equipment for $9.320.png 52.740 in cash and the balance on account & Performed services on account for $10.500. 14 Paid salaries of $1,700 25 Paid $2.990 cash on balance owed for equipment 30 Paid $510 cash dividend. Complete a tabular analysis of the September transactions for transactions affecting stockholders' equits, provide explanations in the fortu. (if transaction camera in Liabilities or Stockholders' Equity, place a negative sign (or Larentheses) in front of the amountered for the world that was reduced. See on for example) Assets Stockholders' Equity Retained Earning Dividends Cash + Accounts Receivable + Equipment Accounts Payable + Common Stock 5 Sept. 1 $ Sept. 5 Sept. 8 Sept. 14 S04 PM

Answer 1

	Assets ($)	Liabilities ($)	Stockholders' Equity ($)
Date	Cash	Accounts Receivables	Equipment	Accounts payable	Common Stock	Revenue	Expenses	Dividends
Sep-01	21900				21900
Sep-05	-2740		9320	6580
Sep-08		18500				18500
Sep-14	-1700						1700
Sep-25	-2990			-2990
Sep-30	-510							510
Balance	13960	18500	9320	3590	21900	18500	1700	510

• Requirement 2: Journal Entries

Date	General Journal	Dr (in $)	Cr (in $)
Sep-01	Cash	21900
	Common Stock		21900
Sep-05	Equipment	9320
	Accounts payable		6580
	Cash		2740
Sep-08	Accounts receivables	18500
	Service Revenue		18500
Sep-14	Salaries expense	1700
	Cash		1700
Sep-25	Accounts payable	2990
	Cash		2990
Sep-30	Dividend	510
	Cash		510

• Requirement 3: Posting to T accounts

Cash
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-01	Common Stock	21900	Sep-05	Equipment	2740
			Sep-14	Salaries expense	1700
			Sep-25	Accounts payable	2990
			Sep-30	Dividend	510
			Sep-30	Balance	13960
Total	21900	Total	21900
Common Stock
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-30	Balance	21900	Sep-01	Cash	21900
Total	21900	Total	21900
Accounts payable
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-25	Cash	2990	Sep-05	Equipment	6580
Sep-30	Balance	3590
Total	6580	Total	6580
Equipment
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-05	Cash	6580	Sep-30	Balance	9320
Sep-05	Accounts payable	2740
Total	9320	Total	9320
Accounts Receivables
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-08	Service Revenue	18500	Sep-30	Balance	18500
Total	18500	Total	18500
Salaries expenses
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-14	Cash	1700	Sep-30	Balance	1700
Total	1700	Total	1700
Dividend
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-30	Cash	510	Sep-30	Balance	510
Total	510	Total	510
Service Revenue
Date	Account	Amount (in $)	Date	Account	Amount (in $)
Sep-30	Balance	18500	Sep-08	Accounts receivables	18500
Total	18500	Total	18500