Selected transactions for Bramble Corp. during its first month in business are presented below: Sept. 1 Issued common stock in exchange for $ 44,000 cash received from investors. 5 Purchased equipment for $ 21,400, paying $ 2,100 in cash and the balance on account. 25 Paid $ 6,500 cash on balance owed for equipment. 30 Paid $ 1,900 cash dividend. Post the transactions to T-accounts.
Selected transactions for Bramble Corp. during its first month in business are presented below: Sept. 1 Issued common stock in exchange for $ 44,000 cash received from investors. 5 Purchased equipment for $ 21,400, paying $ 2,100 in cash and the balance on account. 25 Paid $ 6,500 cash on balance owed for equipment. 30 Paid $ 1,900 cash dividend. Post the transactions to T-accounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Selected transactions for Bramble Corp. during its first month in business are presented below:
| Sept. 1 | Issued common stock in exchange for $ 44,000 cash received from investors. | |
| 5 | Purchased equipment for $ 21,400, paying $ 2,100 in cash and the balance on account. | |
| 25 | Paid $ 6,500 cash on balance owed for equipment. | |
| 30 | Paid $ 1,900 cash dividend. |
Post the transactions to T-accounts.
Transcribed Image Text:Accounts Payable
Common Stock
Dividends
Transcribed Image Text:Cash
Equipment
>
>
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