ACC 290 Week 2 Individual Assignment Problems and Exercises - 90399

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E3-4 (a) ?1. Stockholders invested $20,000 cash in the business. ?2. Purchased equipment for $5,000, paying $1,000 in cash and the balance of $4,000 on account. ?3. Paid $750 cash for supplies. ?4. Earned $9,500 in revenue, receiving $4,100 cash and $5,400 on account. ?5. Paid $1,500 cash on accounts payable. ?6. Paid $2,000 cash dividends to stockholders. ?7. Paid $800 cash for rent. ?8. Collected $450 cash from customers on account. ?9. Paid salaries of $3,000. 10. Incurred $300 of utilities expense on account. (b) Issued common stock $20,000 Service revenue ??9,500 Dividends ?(2,000) Rent expense (800) Salaries and wages expense ?(3,000) Utilities expense (300) Increase in stockholders’ equity $23,400 (c) Service revenue $?9,500 Rent expense (800) Salaries and wages expense ?(3,000) Utilities expense (300) Net income $?5,400 ...
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E3-4

(a)         1.       Stockholders invested $20,000 cash in the business.

             2.       Purchased equipment for $5,000, paying $1,000 in cash and the balance of $4,000 on account.

             3.       Paid $750 cash for supplies.

             4.       Earned $9,500 in revenue, receiving $4,100 cash and $5,400 on
account.

             5.       Paid $1,500 cash on accounts payable.

             6.&nb

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