Reference no: EM132842924

Question - On August 31 the balance sheet of piña colada Corp. showed cash $10,000, accounts receivable $2700, supplies $600, equipment $6000, accounts payable $4600, common stock $14,100, retained earnings $600. During September the following transactions occurred:

1. Paid $3 600 cash for accounts payable due.

2. Collected $1700 of accounts receivable.

3. Purchase additional equipment for $1450 paying $900 in cash and the balance on account

4. Recognized revenue of $6850 of which $2,800 is collected in cash and the balance is due in October.

5. Declared and paid a $700 cash dividend.

6. Paid salaries $1,850, rent for September $1,000 and advertising expenses $150.

7. Incurred utilities expense for a month on account $240.

8. Received $14,000 from capital Bank on a six month note payable.

Required - Prepare a tabular analysis of the September transactions.