Enter the following headings for the horizontal statements model onto a blank sp

Question

Enter the following headings for the horizontal statements model onto a blank spreadsheet b. Under the appropriate headings, record the effect of each of the following accounting events for the first month of operation. The first event has been recorded as an example. (1) Acquired $6,100 from the issue of common stock. (2) Paid $4,400 to purchase land. (3) Borrowed $3,000 cash. (4) Provided services to customers and received $700 in cash (5) Paid $300 for expenses. (6) Paid a $100 dividend to the stockholders.

Explanation / Answer

Cash land loan common Retained income expense net amount activity payable Stock Earnings income 6,100 6,100 6,100 Financing -4,000 4000 -4,000 investing 3,000 3,000 3,000 700 700 700 700 700 operating -300 -300 -300 -300 -300 operating -100 -100 -100 financing 5,400 4000 3,000 6,100 300 700 -300 400 5,400 total assets total claims 3000 + total shareholders equity 6,499 9400 equals 9,400

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.