Issued 79 000 Shares Of No Par Common Stock For 452 000 Issued 9 000 Shares Of 1

1.  Issued 79,000 shares of no par common stock for $452,000.  

2. Issued 9,000 shares of $10 par-value, 8%, preferred stock for $20,000.  

3.  Signed a 5-year, 5%, note with the Bank One for $103,000.

4.  Paid $27,600 annual rent for office and warehouse space.

5.  Purchased $51,500 of office furniture and computer equipment. Paid 36% down and signed a 3-year unsecured note for the remainder. 

6. Purchased $907 supplies on account.

7. Paid $574 for freight and delivery on the office furniture. Paid $548, set-up charges for the computer equipment.

8. Received the supplies and discovered that $101 of the supplies did not match the invoice. The company returned the incorrect items, notified the supplier and recievd a credit on the store account.

9. Paid $16,446 for a full year of fire and liability insurance.

10. Paid 42% of the remaining supply invoices in time to take a 3% discount.

What willl The Cookie Company report for accounts payable in its January 31 balance sheet? (Round to the nearest $1)

Prof. Angela


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