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ACCT - On October 1, 2012, Faith Schultz




Question;On October 1, 2012, Faith Schultz established Heavenly Realty, which completed the following transactions during the month:a. Faith Schultz transferred cash from a personal bank account to an account to be usedfor the business in exchange for capital stock, $20,000.b. Paid rent on office and equipment for the month, $3,750.c. Purchased supplies on account, $1,100.d. Paid creditor on account, $400.e. Earned sales commissions, receiving cash, $16,750.f. Paid automobile expenses (including rental charge) for month, $1,000, and miscellaneous expenses, $700.g. Paid office salaries, $2,150.h. Determined that the cost of supplies used was $600.i. Paid dividends, $1,000.


Paper#43355 | Written in 18-Jul-2015

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