Business, 25.11.2020 04:20, youngbeauty17
Pharoah Company, a computer services company, entered into these transactions during May 2017, its first month of operations. Stockholders invested $44,500 in the business in exchange for common stock of the company.
1. Stockholders invested $44,500 in the business in exchange for common stock of the company
2. Purchased computers for office use for $27,600 from Ladd on account.
3. Paid $5,600 cash for May rent on storage space.
4. Performed computer services worth $18,700 on account.
5. Performed computer services for Wharton Construction Company for $3,800 cash.
6. Paid Western States Power Co. $6,200 cash for energy usage in May.
7. Paid Ladd for the computers purchased in (2).
8. Incurred advertising expense for May of $2,000 on account.
9. Received $10,100 cash from customers for contracts billed in (4).
Answers: 2
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Pharoah Company, a computer services company, entered into these transactions during May 2017, its f...
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