Asked by Kevin Patel on Jun 25, 2024
Verified
The following schedule reflects shows the first month's transactions of the Green Construction Company,owned by Jennifer Green,its sole stockholder:
Provide descriptions for each transaction.
Transactions
Financial activities or events that result in the exchange of assets, liabilities, or equity between entities.
Sole Stockholder
An individual or entity that owns 100% of a corporation’s stock, holding complete control over the firm.
- Explain the impact of business transactions on the components of the accounting equation.
- Detect and organize assorted types of business endeavors (operating, investing, financing).
Verified Answer
AS
ashmita sadiouraJun 30, 2024
Final Answer :
1.Investment of cash in business by stockholder or performed services for cash.
2.Purchased equipment for cash.
3.Purchased supplies on credit.
4.Investment of cash in business by stockholder or performed services for cash.
5.Performed services for both cash and on credit.
6.Paid accounts payable.
7.Received cash for an account receivable.
8.Used supplies in business.
9.Paid cash dividends or paid expense of business.
2.Purchased equipment for cash.
3.Purchased supplies on credit.
4.Investment of cash in business by stockholder or performed services for cash.
5.Performed services for both cash and on credit.
6.Paid accounts payable.
7.Received cash for an account receivable.
8.Used supplies in business.
9.Paid cash dividends or paid expense of business.
Learning Objectives
- Explain the impact of business transactions on the components of the accounting equation.
- Detect and organize assorted types of business endeavors (operating, investing, financing).