Hatcher Tool Service
the Following Transactions Occurred During June 2013 $\quad$

question 17

Essay

Hatcher Tool Service
The following transactions occurred during June 2013:
June 1 $\quad$ Purchased a service truck for $\$ 25,500$ , paying $\$ 5,500$ now and is suing a note payable for the balance; the note is due in monthly installments of $\$ 500$ plus $10 \%$ interest on the unpaid principal balance.

June 8 $\quad$ Performed services of $\$ 30,400$ . Received $\$ 6,400$ cash from customers and $\$ 24,000$ for customers billed for completed services.

June 22 $\quad$ Issued common stock in exchange for land having a fair value of $\$ 70,000$ .

June 30 $\quad$ Received an invoice for $\$ 2,400$ from the company's advertising agency for radio and television adswhich were run during the month; the invoice is che in 30 days. Refer to Hatcher Tool Service.Set up T-accounts and post each transaction to the T-accounts.

---

Definitions:

Ideas

Mental representations or thoughts that arise in the mind, ranging from concepts, plans, opinions, to creative innovations.

Cultures

The ideas, customs, social behaviors, products, or ways of life of a particular society, group, place, or time.

Egalitarian Society

A society that promotes equality, where all members have equal rights and opportunities.

Social Differences

Variations among individuals and groups based on class, ethnicity, gender, age, and other social categories.