1. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation. 2....
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1. | Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation. | |
2. | Purchased $500 of supplies on credit. | |
3. | Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable. | |
4. | Real estate commissions billed to clients amount to $4,000. | |
5. | Paid $700 in cash for the current month's rent. | |
6. | Paid $250 cash on account for office supplies purchased in transaction 2. | |
7. | Received a bill for $800 for advertising for the current month. | |
8. | Paid $2,500 cash for office salaries. | |
9. | Paid $1,200 cash dividends to stockholders. | |
10. | Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4. |
Determine what the net income or loss.
Determine what the net income or loss.
Net Income/loss | $ |
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