On April 1 Adventures Travel Agency Inc Began Operations The Following Transactions Were Completed During The Month 1 (28.32 KiB) Viewed 16 times
On April 1 Adventures Travel Agency Inc Began Operations The Following Transactions Were Completed During The Month 2 (38.4 KiB) Viewed 16 times
On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $24,000 cash. 2. Obtained a bank loan for $7,000 by issuing a note payable. Paid $11,000 cash to buy equipment. Paid $1,200 cash for April office rent. Paid $1,450 for supplies. Purchased $600 of advertising in the Daily Herald, on account. 7. Performed services for $18,000: cash of $2,000 was received from customers, and the balance of $16,000 was billed to customers on account. 8. Paid $400 cash dividend to stockholders. 9. Paid the utility bill for the month, $2,000. 10, Paid Daily Herald the amount due in transaction (6). 11. Paid $40 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries, $6,400. 13. Received $12,000 cash from customers billed in transaction (7). 14. Paid income tax, $1,500. 3. 4. 5. 6.
No Account Tides and Explanation 1. 2 Cak 5 K 9 10 M 14 Exp Cah Equipment Expense Athing Expe AP Account Re Service Equity Cath Accounts Receivable Cash Accounts Receivable Cam Can Service Debil 200 7000 11000 1300 2000 2000 800 7900 LINE Credit 7000 1200 1450 10000 100 NOO 2000
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