- Liabilities Accounts Payable Stockholders Equity Liabilities And Stockholders Equity E 00 On August 31 The Balance 1 (28.27 KiB) Viewed 43 times
- Liabilities Accounts Payable Stockholders Equity Liabilities And Stockholders Equity E 00 On August 31 The Balance 2 (19.53 KiB) Viewed 43 times
On August 31, the balance sheet of Oriole Company showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,800, and Retained Earnings $900. During September, the following transactions occurred. 1. Paid $2,950 cash for accounts payable due 2. Collected $2,000 of accounts receivable. 3, Purchased additional equipment for $1.550, paying $750 incash and the balance on account. 4. Recognized revenue of $8,800, of which $3,400 is collected in cash and the balance is due in October. Declared and paid a $2.000 cash dividend. 5. 6. Paid salaries $2,200, rent for September $1,150, and advertising expense $100. 7. Incurred utilities expense for month on account $210. 8. Received $13,000 from Capital Bank on a 6-month note payable.