U1L4 Flashcards
Sold common stock for cash to start a business
Increase in assets and increase in stockholders’ equity
Paid monthly rent
Decrease in assets and decrease in stockholders’ equity
Purchased equipment on account
Increase in assets and increase in liabilities
Billed customers for services performed
Increase in assets and increase in stockholders’ equity
Paid dividends
Decrease in assets and decrease in stockholders’ equity
Received cash from customers billed (previously)
Increase in assets and decrease in assets
Incurred advertising expense on account
Increase in liabilities and decrease in stockholders’ equity
Purchased additional equipment for cash
Increase in assets and decrease in assets
Received cash from customers when service was performed
Increase in assets and increase in stockholders’ equity
Purchased computer terminals for $20,000 from Data Equipment on account
Increase in assets and increase in liabilities
Paid $3,000 cash for May rent on storage space
Decrease in assets and decrease in stockholders’ equity
Received $15,000 cash from customers for contracts billed in April
Increase in assets and decrease in assets
Performed computer services for Construction Company for $2,700 cash
Increase in assets and increase in stockholders’ equity
Paid Power Co. $11,000 cash for energy usage in May
Decrease in assets and decrease in stockholders’ equity
Stockholders invested an additional $32,000 in the business
Increase in assets and increase in stockholders’ equity
