Selected transactions for Protheroe Corporation during its first month in busine

Question

Selected transactions for Protheroe Corporation during its first month in business are presented belowW Sept. 1 Issued common stock in exchange for $19,240 cash received from investors 5 Purchased equipment for $8,620, paying $3,840 in cash and the balance on account 8 14 25 30 Performed services on account for $18,000 Paid salaries of $1,200 Paid $3,470 cash on balance owed for equipment Paid $660 cash dividend Your answer is partially correct. Try again Complete a tabular analysis of the September transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) se Liabilities Stockholders' Equity Retained Earnings ash Accounts Receivable+ EquipmentAccounts Payable Common Stock Revenues Expenses Dividends Issued Sept. 1 Sept. 5 Sept. 8 Sept. 14 Sept. 25 Sept. 30 19240 0 0 19240 0 stock 3840 8620 12460 0 0 18000 0 1200 1200 3470 3470 0 600 0Dividends 28350 180001 12090 12460$ 19240 1200d

Explanation / Answer

Cash

1-Sep

                       19,240

5-Sep

                           3,840

1-Sep

14-Sep

                           1,200

1-Sep

25-Sep

                           3,470

1-Sep

30-Sep

                               600

Bal

                       10,130

Accounts Receivable

8-Sep

                       18,000

5-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                       18,000

Equipment

5-Sep

                          8,620

5-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                          8,620

Accounts Payable

25-Sep

                          3,470

5-Sep

                           4,780

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                           1,310

Common Stock

25-Sep

1-Sep

                         19,240

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                         19,240

Dividends

30-Sep

                             600

1-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

Sales Revenue

30-Sep

8-Sep

                         18,000

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

Salaries and Wages Expese

14-Sep

                          1,200

8-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

Cash

1-Sep

                       19,240

5-Sep

                           3,840

1-Sep

14-Sep

                           1,200

1-Sep

25-Sep

                           3,470

1-Sep

30-Sep

                               600

Bal

                       10,130

Accounts Receivable

8-Sep

                       18,000

5-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                       18,000

Equipment

5-Sep

                          8,620

5-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                          8,620

Accounts Payable

25-Sep

                          3,470

5-Sep

                           4,780

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                           1,310

Common Stock

25-Sep

1-Sep

                         19,240

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

                         19,240

Dividends

30-Sep

                             600

1-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

Sales Revenue

30-Sep

8-Sep

                         18,000

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

Salaries and Wages Expese

14-Sep

                          1,200

8-Sep

1-Sep

14-Sep

1-Sep

25-Sep

1-Sep

30-Sep

Bal

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