Business, 08.02.2021 18:30 mimithurmond03
Selected transactions for Martinez, an interior decorator corporation, in its first month of business, are as follows.
1. Issued stock to investors for $13,300 in cash.
2. Purchased used car for $10,100 cash for use in business.
3. Purchased supplies on account for $280.
4. Billed customers $3,930 for services performed.
5. Paid $150 cash for advertising at the start of the business.
6. Received $1,610 cash from customers billed in transaction (4).
7. Paid creditor $310 cash on account.
8. Paid dividends of $550 cash to stockholders.
Required:
For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity).
Answers: 2
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Selected transactions for Martinez, an interior decorator corporation, in its first month of busines...
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