The following financial statements are available for Oak Corporation for its first month of operations:

Required
Describe as many transactions as you can that were entered into by Oak Corporation during the first month of business. Alternate Multi-ConceptProblems

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Oak Corporation Income Statement For the Month Ended July 31, 2010 $75,400 Service revenue Expenses Rent Salaries and wages Utilities S 6,000 24,600 12,700 43,300 532.100 Net income Balance Sheet July 31, 2010 Assets Liabilities and Stockholders' Equity Cash Accounts receivable Equipment Furniture Land $ 13,700 25,700 32,000 14,700 24,000 Wages payable Notes payable Unearned service revenue Capital stock Retained earnings S 6,000 50,000 4,500 30,000 19,600 Total liabilities and Total assets $110,100 stockholders equity $110,100