Karen's Flower Shop Began Business as a Corporation in 2015

question 28

Essay

Karen's Flower Shop began business as a corporation in 2015. Several transactions which occurred early in 2015 ar
below. Record each transaction in proper form, excluding written explanations, in the general journal provided.
A January 23, 2015: Stockholders invested cash of $70,000 in the business and received 7,000 shares common stock as evidence of their ownership interest.
B February 1, 2015: Rent of $1,600 was paid for the month of February.
C February 7, 2015: Equipment with a cost of $3,000 was purchased on credit; payment is due within 30 days.
D February 14, 2015: Bills totaling $5,400 were presented to customers for flower arrangements created and delivered; $2,900 was received in cash immediately; the balance of $2,500 is due within 10 days.
E February 18, 2015: Full payment was made for the equipment purchased on February 7.
F February 22, 2015: Payment of $1,900 was received from customers with balances due from February 14.
G February 28, 2015: Employee salaries of $3,300 were paid.
General Journal

---

Definitions:

Financial Measure

A numeric representation of a company's financial health or performance, such as profit margins, return on investment, or earnings per share.

Balanced Scorecard

A strategic planning and management system that uses a mix of financial and non-financial measures to evaluate organizational performance.

Decision Management

Those aspects of the decision process where managers either initiate or implement decisions.