Selected transactions for the Decorators Mill Ltd., an interior decorator corporation in its first..

Selected transactions for the Decorators Mill Ltd., an interior decorator corporation in its first..

Selected transactions for the Decorators Mill Ltd., an interior decorator corporation in its first month of business, are as follows: March 2 Issued common shares for $11,000 cash. 4 Purchased used car for $1,000 cash and $9,000 on account, for use in the business. 10 Billed customers $2,300 for services performed. 13 Paid $225 cash to advertise business opening. 25 Received $1,000 cash from customers billed on March 10. 27 Paid amount owing for used car purchased on March 4. 30 Received $700 cash from a customer for services to be performed in April. 31 Paid dividends of $500 to shareholders. Instructions For each of the above transactions, prepare a (a) basic analysis, (b) equation analysis, and (c) debit-credit analysis. View Solution:
Selected transactions for the Decorators Mill Ltd an interior decorator

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