Cora's Services Was Formed on May 1

question 100

Essay

Cora's Services was formed on May 1. The following transactions and events took place during the first month.
1. Cora Jacq invested $20,000 cash in the company, as its sole owner.
2. Hired two employees to work in the office. They will each 3. Signed a 2-year rental agreement on an office; paid $24,000 cash for rent.
4. Purchased equipment costing $30,000; paid $6,000 now and the remainder on account.
5. Paid $2,100 cash for furniture.
6. Purchased basic office supplies for $520 cash.
7. Purchased more office supplies for $1,300 on account.
8. Total revenues earned were $50,000: $38,000 cash and $12,000 on account.
9. Paid $400 to suppliers from item 7.
10. Received $4,000 from customers in payment of accounts receivable.
11. Received utility bill in the amount of $490, to 12. Paid the monthly salaries of the two employees, totaling $4,000.
Indicate the account debited and the account credited for each date.

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Definitions:

Catatonic Rigidity

A state of unresponsiveness in which an individual's muscles are immovably rigid and they remain in the same position for an extended period.

Catatonic Posturing

A symptom of certain psychiatric conditions where an individual maintains unusual and rigid body positions for extended periods.

Psychomotor Symptoms

Physical manifestations associated with mental disorders, including changes in movement speed, coordination, or agility.

Catatonic Stupor

A state of psycho-motor immobility and behavioral abnormality, characterized by a lack of response to environment and often associated with schizophrenia.