Business, 23.06.2020 19:01, hncriciacheichi
Bindy Crawford created a corporation providing legal services, Marin Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,200; Accounts Receivable $6,900; Supplies $720; Equipment $9,400; Accounts Payable $8,600; Common Stock $10,800; and Retained Earnings $1,820. During August the following transactions occurred.
Aug. 1 Collected $1,150 of accounts receivable due from customers.
4 Paid $2,710 cash for accounts payable due.
9 Performed services worth $5,360, of which $3,580 is collected in cash and the balance is due in September
15 Purchased additional office equipment for $4,490, paying $470 in cash and the balance on account.
19 Paid salaries $1,430, rent for August 650, and advertising expenses 320
23 Paid a cash dividend of $650.
26 Borrowed $5,950 from American Federal Bank; the money was borrowed on a 4-month note payable.
31 Incurred utility expenses for the month on account $440
Prepare a tabular analysis of the August transactions beginning with July 31 balances.
Answers: 3
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Bindy Crawford created a corporation providing legal services, Marin Inc., on July 1, 2022. On July...
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