Dec. 1,"Received $17,000 cash from Christian in exchange for common stock." Dec. 2,"Received $2,800 cash...
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Accounting
Dec. 1,"Received $17,000 cash from Christian in exchange for common stock." Dec. 2,"Received $2,800 cash from customers for services performed." Dec. 5,Paid $150 cash for office supplies. Dec. 9,"Performed services for a customer and billed the customer for services rendered, $1,500." Dec. 10,Received $700 invoice for utilities due in two weeks. Dec. 15,"Paid for advertising in the local paper, $400." Dec. 20,Paid utility invoice received on December 10. Dec. 25,Collected cash in full from customer billed on December 9. Dec. 28,"Paid rent for the month, $1,400." Dec. 28,"Paid $1,500 to assistant for wages." Dec. 30,"Received $1,200 cash from customers for services performed." Dec. 31,"Cash dividends of $5,000 were paid to stockholders." Analyze the effectsthe effects of the transactions on the accounting equation of Thompson
Thompson
Gymnastics. Use the followingaccounts: Cash, AccountsReceivable, OfficeSupplies, AccountsPayable, CommonStock, Dividends, ServiceRevenue, RentExpense, UtilitiesExpense, WagesExpense, and Advertising Expense.
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