Screen Shot 2016-01-31 at 6.43.14 PM.png

Screen Shot 2016-01-31 at 6.43.14 PM.png - More Info Sold...

Info icon This preview shows page 1. Sign up to view the full content.

Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: More Info Sold $80,000 of common stock to Grasso to start the business. Paid $600 for the purchase of office supplies. Paid $40,000 cash to purchase land for an office site. Purchased office equipment on account, $2,500. Borrowed $25,000 from the bank. Grasso signed a note payable to the bank in the name of the business. Paid $2,150 on account. Revenues earned during the month included $9,000 cash and $24,000 on account. Paid employees' salaries, $2,300; office rent, $1,100; and utilities, $450. Paid $2,500 of dividends to stockholder, Grasso. ...
View Full Document

  • Spring '08
  • levin

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern