Helga Ander started a new business and completed these transactions during December.

timer Asked: Jan 30th, 2015

Question description

Helga Ander started a new business and completed these transactions during December.
Dec. 1 Helga Ander transferred $65,000 cash from a personal savings account to a checking account in the name of Ander Electric.
The company rented office space and paid $1,000 cash for the December rent.
The company purchased $13,000 of electrical equipment by paying $4,800 cash and agreeing to pay the $8,200 balance in 30 days.
The company purchased office supplies by paying $800 cash.

The company completed electrical work and immediately collected $1,200 cash for these services.

The company purchased $2,530 of office equipment on credit.
15 The company completed electrical work on credit in the amount of $5,000.
18 The company purchased $350 of office supplies on credit.
20 The company paid $2,530 cash for the office equipment purchased on December 8.
24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
28 The company received $5,000 cash for the work completed on December 15.
29 The company paid the assistant’s salary of $1,400 cash for this month.
30 The company paid $540 cash for this month’s utility bill.
31 H. Ander withdrew $950 cash from the company for personal use.

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