Accounting Ledger Problem
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Details are in the file. Financial accounting problems
During 2022, the following transactions occurred.
| 1. | On January 1, Bramble issued 840 shares of $40 par, 7% preferred stock for $34,440. | |
| 2. | On January 1, Bramble also issued 630 shares of the $10 par value common stock for $14,700. | |
| 3. | Bramble performed services for $224,000 on account. | |
| 4. | On April 1, 2022, Bramble collected fees of $25,200 in advance for services to be performed from April 1, 2022, to March 31, 2023. | |
| 5. | Bramble collected $193,200 from customers on account. | |
| 6. | Bramble bought $24,570 of supplies on account. | |
| 7. | Bramble paid $22,540 on accounts payable. | |
| 8. | Bramble reacquired 280 shares of its common stock on June 1 for $28 per share. | |
| 9. | Paid other operating expenses of $131,740. | |
| 10. | On December 31, 2022, Bramble declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2023. | |
| 11. | An account receivable of $1,190 which originated in 2022 is written off as uncollectible. |
