Barley & Hops Company was formed in 2014.During the year the company had the following events occur:
1.The company issued $100,000 in common shares for cash.
2.The company purchased equipment for $15,000,paying $5,000 down and signing a 1-year,8% note for the balance.
3.The company hired 4 employees.
4.The company had sales of $250,000.All sales were on account.
5.The company incurred the following expenses: rent: $2,000,salaries: $20,000,advertising $2,000 and utilities $4,000.All expenses were paid in cash.

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The Answer of Barley & Hops Company was formed in 2014.During the year the company had the following events occur:
1.The company issued $100,000 in common shares for cash.
2.The company purchased equipment for $15,000,paying $5,000 down and signing a 1-year,8% note for the balance.
3.The company hired 4 employees.
4.The company had sales of $250,000.All sales were on account.
5.The company incurred the following expenses: rent: $2,000,salaries: $20,000,advertising $2,000 and utilities $4,000.All expenses were paid in cash.

Barley & Hops Company Was Formed in 2014