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Lưu Thiên
Guest
- 20/9/16
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The Western Fittings Corporation began business on January 1, 2010. The following transactions occurred during its first six months:
1. Three individuals each invested $35,000 in cash.
2. 1/2 year's rent was paid for $10,000 on January 1.
3. On February 1, several pieces of property, plant, and equipment were purchased for $50,000 on account.
4. During the six month, clothing, boots, and accessories were purchased for $40,000 cash.
5. The corporation had sales revenue of $75,000, of which $30,000 has not yet been collected in cash.
6. The cost of the clothing, boots, and accessories sold in item 5 was $55,000.
7. Employees were paid $30,000 in wages.
8. The corporation paid utilities and telephone expenses of $3,000.
1. Three individuals each invested $35,000 in cash.
2. 1/2 year's rent was paid for $10,000 on January 1.
3. On February 1, several pieces of property, plant, and equipment were purchased for $50,000 on account.
4. During the six month, clothing, boots, and accessories were purchased for $40,000 cash.
5. The corporation had sales revenue of $75,000, of which $30,000 has not yet been collected in cash.
6. The cost of the clothing, boots, and accessories sold in item 5 was $55,000.
7. Employees were paid $30,000 in wages.
8. The corporation paid utilities and telephone expenses of $3,000.