Examples_for_chapter_3

Examples_for_chapter_3 - 5. On October 3 rd the corporation...

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1. On October 1 st the owner invested $10,000 cash in the business, in exchange for 10,000 of Corporation common stock 2. On October 1 st , the corporation needed office equipment, which was purchased by signing a $5,000 note payable to the vendor due in 3 months 3. On October 2, the corporation received a $1,200 cash advance from a client for services that are expected to be completed by December 31 st 4. On October 3 rd the corporation received $10,000 cash from a client for services performed
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Unformatted text preview: 5. On October 3 rd the corporation paid $900 for rent 6. On October 4 th the corporation paid $600 for a one year insurance policy that will expire next year on Sept 30 th 7. On October 5 th the corporation purchased an estimated 3 month supply of materials on account from a vendor for $2,500. 8. Hired four new employees on October 15 th 9. On October 20, the corporation paid a $500 dividend 10. Employees have worked 2 weeks and are paid $4,000 in wages...
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