Received $15,000 cash from the issue of common stock. Performed services on account for $45,000....
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Accounting
Received $15,000 cash from the issue of common stock. Performed services on account for $45,000. Paid the utility expense of $1,300. Collected $31,540 of the accounts receivable. Recorded $6,950 of accrued salaries at the end of the year. Paid a $750 cash dividend to the stockholders. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for the Year 1 accounting period.
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