Reference no: EM132525231
Question 1: Record the following transactions. If an entry is not required, state &No Entry.
(a) Started business by issuing 10,000 shares of common stock for $20,000.
(b) Hired Rebecca as an administrative assistant, promising to pay her $2,000 every two week.
(c) Rented a building for three years at $500 per month and paid six months & rent in advance.
(d) Purchased equipment for $5,400 cash.
(e) Purchased $1,800 of supplies on account.
(f) Provided services to customers for $7,800 cash.
(g) Paid employee salaries, $5,200.
(h) Paid for supplies purchased in item (e).
(i) Paid $800 for current advertising in a local newspaper.
(j) Paid utility bill of $1,300 for the current month
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