More Info Mar. 1 Sold personal investment in Amazon stock, which she had owned f

Question

More Info Mar. 1 Sold personal investment in Amazon stock, which she had owned for several years, receiving $30,000 cash. 2 Deposited the $30,000 cash from the sale of the Amazon stock in her personal bank account. 3 Deposited $75,000 cash in a new business bank account titled Anastasia Petrone, Attorney. The business issued common stock to Petrone. 5 Paid $750 cash for ink cartridges for the printer. 7 Purchased computer for the law office, agreeing to pay the account, $6,800, within three months. 9 Received $1,000 cash from customers for services rendered. 15 Received bill from The Lawyer for magazine subscription, $390. (Use Miscellaneous Expense account.) 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $19,000, on account. 28 Paid bill from The Lawyer. 30 Paid utilities, $820. 31 Received $2,300 cash from clients billed on March 23. 31 Cash dividends of $1,500 were paid to stockholders. Print Done

Explanation / Answer

Asset = Liabilities + Stockholder's Equity Date Items Cash + Acount Receivable + Office Supplies + Computer = Account Payable + Common Stock - Dividend + Service Revenue - Utilities Exp - Misc Expe 01-Mar Personal Nature transaction 02-Mar Personal Nature transaction 03-Mar Issue common stock $75,000 $75,000 Balance $75,000 $75,000 05-Mar Paid for Ink Cartidge -$750 $750 Balance $74,250 $75,000 $750 07-Mar Purchase computer $6,800 $6,800 Balance $74,250 $6,800 $6,800 $75,000 $750 09-Mar Service rendered $1,000 $1,000 Balance $75,250 $6,800 $6,800 $75,000 $1,000 $750 15-Mar Magzine Subscription $390 $390 Balance $75,250 $6,800 $7,190 $75,000 $1,000 $1,140 23-Mar Bill for legal Services $19,000 $19,000 Balance $75,250 $19,000 $6,800 $7,190 $75,000 $20,000 $1,140 28-Mar Payment for Magzine -$390 -$390 Balance $74,860 $19,000 $6,800 $6,800 $75,000 $20,000 $1,140 30-Mar Paid Utilities -$820 $820 Balance $74,040 $19,000 $6,800 $6,800 $75,000 $20,000 $820 $1,140 31-Mar Received from Client $2,300 -$2,300 Balance $76,340 $16,700 $6,800 $6,800 $75,000 $20,000 $820 $1,140 31-Mar Cash Dividend Paid -$1,500 $1,500 Balance $74,840 $16,700 $6,800 $6,800 $75,000 $1,500 $20,000 $820 $1,140 Total $98,340 $6,800 $91,540

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