Selected transactions for Culver Corporation during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $21,400 cash received from investors.
5 Purchased equipment for $8,900, paying $3,020 in cash and the balance on account.
8 Performed services on account for $18,000.
14 Paid salaries of $1,200.
25 Paid $3,420 cash on balance owed for equipment.
30 Paid $930 cash dividend.
Complete a tabular analysis of the September transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.)
Assets = Liabilities + Stockholders
Equity
Retained Earnings
Cash + Accounts Receivable + Equipment = Accounts Payable + Common Stock + Revenues ? Expenses ? Dividends
Sept. 1 $ $ $ $ $
Issued stock
Sept. 5
Sept. 8
Sept. 14
Sept. 25
Sept. 30
Dividends $ $ = $ $