Selected transactions for Marigold Corp. during its first month in business are presented below. Sept. 1...
Selected transactions for Marigold Corp. during its first month
in business are presented below.
| Sept. 1 | Stockholders invested $10,100 cash in the business in exchange for common stock. | |
| 5 | Purchased equipment for $13,300 paying $5,800 in cash and the balance on account. | |
| 25 | Paid $1,910 cash on balance owed for equipment. | |
| 30 | Declared and paid a $740 cash dividend. |
Marigold’s chart of accounts shows No. 101 Cash, No. 157 Equipment,
No. 201 Accounts Payable, No. 311 Common Stock, and No. 332
Dividends.
Journalize the transactions.
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