Chris Vining organized The Herbal Shoppe at the beginning of February 20Y4. During February, The Herbal Shoppe entered into the following transactions:
a. Chris Vining invested $25,000 in The Herbal Shoppe in exchange for capital stock.
b. Paid $4,200 on February 1 for an insurance premium on a 1-year policy.
c. Purchased supplies on account, $1,200.
d. Received fees of $36,500 during February.
e. Paid expenses as follows: wages, $12,000; rent, $2,000; utilities, $1,000; and miscellaneous, $1,100.
f. Paid dividends of $7,500.
Record the preceding transactions using the integrated financial statement framework. After each transaction, you should enter a balance for each item.

  • CreatedMarch 11, 2014
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