Homework Answers
| Cash | Supplies | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| (a) | $96,000 | $7,500 | (b) | (e) | $950 | |||
| $34,000 | (d) | |||||||
| $230 | (f) | |||||||
| End. Bal. | $54,270 | End. Bal. | $950 | |||||
| Equipment | Land | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| (d) | $34,000 | (b) | $19,000 | |||||
| End. Bal. | $34,000 | End. Bal. | $19,000 | |||||
| Accounts payable | Notes payable (long-term) | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| (f) | $230 | $950 | (e) | $11,500 | (b) | |||
| End. Bal. | End. Bal. | $11,500 | ||||||
| Common stock | ||||||||
| Beg. Bal. | $0 | |||||||
| $96,000 | (a) | |||||||
| End. Bal. | $96,000 | |||||||
*No Entry for transaction c because no transaction & No entry for g because its a personal transaction.
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a. Received $96,000 cash when issuing 9,600 new common shares. b. Purchased land by paying $7,500...
a. Received $96,000 cash when Issuing 9,600 new common shares. b. Purchased land by paying $7,500...
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