se the letters to identify the transactions. 1 More Info a. Luke Hampton opened

Question

se the letters to identify the transactions. 1 More Info a. Luke Hampton opened a law firm by investing $25,000 cash and office furniture valued at $8,900. Organized as a professional corporation, the business issued common stock to Hampton. b. Paid monthly rent of $1,100. c. Purchased office supplies on account, $1,200. d. Paid employee salaries of $3,000 e. Paid $650 of the accounts payable created in transaction c. f. Performed legal services on account, $10,500. g. Declared and paid dividends of $2,200. Print Done

Explanation / Answer

Cash a 25000 b 1100 d 3000 e 650 g 2200 Common Stock a 33900 Accounts Receivables f 10500 Dividends g 2200 Office Supplies c 1200 Service Revenue f 10500 Office Furniture a 8900 Salary Expense d 3000 Accounts Payable e 650 c 1200 Rent Expense b 1100

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