Question: green wave company plans to own and operate a storage...
Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions.
- January 1 Issue 10,000 shares of common stock in exchange for $38,000 in cash.
- January 5 Purchase land for $22,000. A note payable is signed for the full amount.
- January 9 Purchase storage container equipment for $8,600 cash.
- January 12 Hire three employees for $2,600 per month.
- January 18 Receive cash of $12,600 in rental fees for the current month.
- January 23 Purchase office supplies for $2,600 on account.
- January 31 Pay employees $7,800 for the first month's salaries