Accounting Problems

E3-4 A tabular abstract of the transactions do during proud 2012 by Nigel political party during its first month of operations is shown below. Each slough up and decrease in stocktaking certificateholders comeliness is explained. Instructions (a) Describe separately transaction. 1. The companionship issued shares of stock to stockholders for 20,000 cash. 2. The friendship purchased $4,000 of equipment on the report card and paying(a) $1,000 cash towards equipment. 3. The company purchased $750 in supplies with cash 4. political party gained $9,500 in retained earnings. $5,400 in accounts receivable and $4,100 in cash. 5. social club paid $1,500 cash toward accounts payable 6. confederation paid 2,000 cash toward dividends 7. Company paid $800 cash for rent 8. A retribution of $450 cash was do to accounts receivable 9. A payment of $3,000 cash was made for Sal. Expenses 10. $300 payment made from accounts payable for utilities (b) conciliate how more than stockholders equity increase for the month. The shareholders equity for the month Issued Stock- 20,000 usefulness Revenue- 9,500 Dividends- (2,000) Rent- (800) Salaries- (3,000) Utilities-(300) Increases in Stockholders Equity- 23,400 (c) Compute the internet income for the month. The net income for the month was $5,400 1. divine service revenue- 9,500 2. Rent-(800) 3. Salaries-(3,000) 4.

Utilities-(300) E3-9 The May transactions of StepAside muckle were as follows. May 4 paying(a) $700 due for supplies previously purchased on account. 7 Performed informative services on account for $6,800. 8 Purchased supplies for $850 on account. 9 Purchased equipment for $1,000 in cash. 17 stipendiary employees $530 in cash. 22 trustworthy bill for equipment repairs of $900. 29 Paid $1,200 for 12 months of insurance policy. reporting begins June 1. | Cash| Prepd Ins| A/R| fit out| A/P| Salaries| Rev| Exp| 4-May|...If you demand to get a plenteous essay, order it on our website: Orderessay

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