financial management assignment 5

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greetings

question number 1 :

Secure Data Corporation plans to own and operate a data backup facility for technology companies. For the first month of operations, the company had the following transactions.

1.Issue 20,000 shares of common stock for $50,000 cash.

2.Hire two employees for $1,500 per month.

3.Purchase equipment for $15,000 cash.

4.Purchase facility for $25,000. A note payable is signed for this amount.

5.Purchase office supplies for $1,500 on account.

6.Receive cash of $10,000 in service fees for the current month.

7.Pay employees $3,000 for the first month’s salaries.

Required:

For each transaction, describe the dual effect on the accounting equation. For example, in the first transaction, (1) assets increase and (2) stockholders’ equity increases.

This homework has 11 questions to be answered

thank you

 
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