Transactions made by Virmari & Co., a public accounting fi rm, for the month of August are
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Transactions made by Virmari & Co., a public accounting fi rm, for the month of August are shown below. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation, similar to that shown in Illustration 1-9.
1. Stockholders purchased shares of stock for $25,000 cash.
2. The company purchased $7,000 of office equipment on credit.
3. The company received $8,000 cash in exchange for services performed.
4. The company paid $850 for this month’s rent.
5. The company paid a dividend of $1,000 in cash to stockholders.
Data from Illustration 1-9
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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