Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 11.00

common stock in exchange

following types of transactions will either (a) increase stock- holders’  equity  or  (b)  decrease  stockholders’   equity:

1.     expenses

2.     issuing common stock in exchange for cash

3.     dividends

4.     revenues

The following selected transactions were completed by Cota Delivery Service during  July:

1.   Received cash in exchange for common stock, $35,000.

2.   Purchased supplies for cash, $1,100.

3.   Paid rent for October, $4,500.

4.   Paid advertising expense, $900.

5.   Received cash for providing delivery services, $33,000.

6.   Billed customers for delivery services on account, $58,000.

7.   Paid creditors on account, $2,900.

8.   Received cash from customers on account, $27,500.

9.   Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month.

10.  Paid cash dividends, $2,500.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 07:08 PM My Price 11.00

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