HWK__4 - HOMEWORK #4 DUE FRIDAY, SEPT. 19 (6 points) Party...

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HOMEWORK #4 DUE FRIDAY, SEPT. 19 (6 points) Party On, Inc, opened for business on June 1, 2008. The business transactions for June are shown below: JUNE 1 Hey Dude invested $50,000 cash in the business in exchange for 1,000 shares of capital stock. 4 Purchased equipment, paying $20,000 cash. 9 Received $5,000 cash for a party thrown today. 16 Threw another party; the total bill was for $10,000. The customer paid $2,000 cash and promised to pay the rest at a later date. 21 Received $2,500 from a customer as a deposit on a party booking for July 4. 24 Began preparing for the July 4 th party by purchasing various party supplies on account for $600. 27 Paid $6,000 in cash for next month’s rent of office space. 28 Received $1,000 in cash from customers on accounts receivable. 29 Paid $4,000 in wages to employees for work done during the month. 30 Paid $1,000 for running a television add this month.
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This note was uploaded on 12/02/2008 for the course ACCT 201 taught by Professor Anothony during the Spring '07 term at Michigan State University.

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HWK__4 - HOMEWORK #4 DUE FRIDAY, SEPT. 19 (6 points) Party...

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