Transactions and impact on financial statements

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Reference no: EM133150333

The financial statements are automatically generated based on the journal entries recorded.

January 1C. Collins, owner, invested $172,750 cash in the company in exchange for common stock.January 2The company purchased supplies for $3,650 cash.January 3The company purchased $10,050 of equipment on credit.January 4The company received $20,300 cash for services provided to a customer.January 5The company paid $10,050 cash to settle the payable for the equipment purchased on January 3.January 6The company billed a customer $5,100 for services provided.January 7The company paid $3,625 cash for the monthly rent.January 8The company collected $2,925 cash as partial payment for the account receivable created on January 6.January 9The company paid $13,700 cash in dividends to the owner (sole shareholder).

Analyze and record transactions and their impact on financial statements.

Reference no: EM133150333

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