prepare a journal entry for each tranaction. The owner of J. Cruz invest 11,000 cash and $8,000 of equipment in the company. The company aquires $6,500 of supplies by paying $1,400 cash putting $5, 100 on credit (accounts payable)

prepare a journal entry for each tranaction. The owner of J. Cruz invest 11,000 cash and $8,000 of equipment in the company. The company aquires $6,500 of supplies by paying $1,400 cash putting $5, 100 on credit (accounts payable)

Name: prepare a journal entry for each tranaction. The owner of J. Cruz inv
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Description: prepare a journal entry for each tranaction. The owner of J. Cruz invest 11,000 cash and$8,000 of equipment in the company. The company aquires $6,500 of supplies bypaying $1,400 cash putting $5, 100 on credit (accounts payable)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Groro Co. Bills a client $62,000 for services provided and agrees to accept the following 3 items as full payment $10,000 cash, equipment worth $80,000 and to assume responsibility for a $28,000 note payable related to the equipment. question: record the transaction in journal entry form. date general journal debit credit general journals are either cash,equipment revenue, supplies, accounts payable, note payable, common stock or revenue
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Prepare an income statement for the month ended January 31,2018 General Entries: Jan5 Received $60,000 from Shophia Lebron and issued 12,000 common shares of $5 par value. Jan5 Paid $6,000 of general liability and property insurance. The disbursement by Check No. 100 was for a complete year of service. Jan6 Rented an office and furniture for $2,000 per month. Issued Check No. 101 for $6,000, representing the first and last month's rent and the security deposit.[ the security deposit (debit deposit), the last month's rent, and the current rent are to be classified separately.] Jan7 Issued Check No. 102 for $1,600 for the purchase of office supplies. Jan7 Issued Check No. 103 for $7,000 for advertising to be run in local nespaper and magazines in the month of Jan Jan10 Roxana Perini engaged My Place, House of Decor to renovate her oceanfront condominium. Received $10,000 from Roxana Perini after services were completed. Jan12 Recorded $6,000 (net 30) decorating fees earned on account…
Cember 1 L. Hepair Shop started operations with a P150,000 cash investment received from Juanito Cruz, the sole proprietar. Account Title Dr Debit ( Credit (P) To record
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