Solution:
Assets | = | Liabilities | + | Paid in capital | + | Retained earnings | |
1 | $600,000.00 | $600,000.00 | |||||
2 | $75,000.00 | $75,000.00 | |||||
3 | $182,000.00 | $182,000.00 | |||||
4 | $108,000.00 | $108,000.00 | |||||
5 | -$8,000.00 | -$8,000.00 | |||||
6 | |||||||
7 | -$162,000.00 | -$162,000.00 | |||||
8 | |||||||
9 | -$2,500.00 | -$2,500.00 |
please complete the question and explain work The following transactions occurred during March 2021 for the...
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...
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