The following events apply to Paradise Vacations's first year of operations: 1. Acquired $36,000 cash from...

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The following events apply to Paradise Vacationss first year of operations: 1. Acquired $36,000 cash from the issue of commo

ASSETS Cash STOCKHOLDERS EQUITY Common Stock Accounts Payable Accounts Receivable Salaries B ERE Dividends 1 Bal Bal. Suppli

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Answer 1

Answer #1

event			ASSETS						liabilities				stockholders equity
no.	CASH	+	account receivable	+	supplies	+	prepaid rent	=	account payable	+	salary payable	+	common stock	+	dividend	+	service revenue	+	other operating expenses	-	rent expenses
	36000				1600				1600				36000
	-6120						6120
			44350														44350
									14900										-14900
	32000		-32000
	-9800								-9800
	-4600														-4600
					-1290														-1290
							-1020														-1020
											5200								-5200

balance	47480		12350		310		5100		6700		5200		36000		-4600		44350		-21390		-1020

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Answer 2

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