a. Molly started out on April 1 by depositing $5,000 in a commercial checking account in exchange
Question:
a. Molly started out on April 1 by depositing $5,000 in a commercial checking account in exchange for common stock.
b. The company served customers and received $4,215 in cash.
c. The company borrowed $1,200 from the bank for the business by signing a promissory note.
D. The company paid $1,125 of operating expenses.
to. The company bought a new computer for $3,000 in cash to keep track of their accounts. customers from next month.
f. The company distributed $1,050 in dividends to the owner.
1. | Enter the transactions into the accounting equation. |
2. | What is the total assets of the company at the end of April? 30, 2012? |
3. | Do you prepare a cash flow statement for the month ending April? 30, 2012. |
4. | What was the net income for the month ended April? 30, 2012? |
Forensic And Investigative Accounting
ISBN: 9780808056300
10th Edition
Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton