Joel Henry tounded Bookmart.com at the beginning of August, which sells new and used books online....
At the beginning of August, Joel Henry founded Bookmart.com, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience. a. The company purchased equipment for $4,700 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7700 worth of inventory from a publisher. The company will pay the publisher within 45-60 days. C. Joel's friend Sam lent $4.700 to the business. Sam...
ework At the beginning of August, Joel Henry founded Bookmart.com, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience. a. The company purchased equipment for $4,500 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7,500 worth of inventory from a publisher. The company will pay the publisher within 45-60 days. c Joel's friend Sam lent $4,500 to the business....
er 2 H Help t the beginning of August, Joel Henry founded Bookmart.com, which sells new and used books online. He is passionate about books ut does not have a lot of accounting experience. The company purchased equipment for $4,500 cash. The equipment is expected to be used for 10 or more years Joel's business bought $7,500 worth of inventory from a publisher. The company will pay the publisher within 45-60 days. Joel's friend Sam lent $4,500 to the business....
value: 10.00 points M2-15 Identifying Transactions and Preparing Journal Entries [LO 2-3] Joel Henry founded Bookmart.com at the beginning of August, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience a. The company purchased equipment for $4,200 cash. The equipment is expected to be used for 10 or more years b. Joel's business bought $7,200 worth of inventory from a publisher. The company will pay the publisher within...
M2-15 Identifying Transactions
and Preparing Journal Entries [LO 2-3] At the beginning of August,
Joel Henry founded Bookmart.com, which sells new and used books
online. He is passionate about books but does not have a lot of
accounting experience. The company purchased equipment for $4,900
cash. The equipment is expected to be used for 10 or more years.
Joel’s business bought $7,900 worth of inventory from a publisher.
The company will pay the publisher within 45–60 days. Joel’s friend
Sam...
a. The company purchased equipment for $4,500 cash. The equipment is expected to be used for 10o b. Joel's business bought $7,500 worth of inventory from a publisher. The company will pay the publisher c. Joel's friend Sam lent $4,500 to the business. Sam had Joel write a note promising that Bookmart.com more years within 45-60 days would repay the $4,500 in four months. Because they are good friends, Sam is not going to charge Joel interest d. The company...
identifying transactions and preparing journal
entries
M2-15 Identifying Transactions and Preparing Journal Entries (LO 2-3] 75 points At the beginning of August, Joel Henry founded Bookmart.com, which sells new and used books online. He is passionate about books but does not have a lot of accounting experience. eBook Print a. The company purchased equipment for $4,000 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7,000 worth of inventory from a publisher....
The following events occurred for Favata Company: a. Received $17,000 cash from owners and issued stock to them. b. Borrowed $14,000 cash from a bank and signed a note due later this year. C. Bought and received $1,500 of equipment on account. d. Purchased land for $26,000; paid $2,400 in cash and signed a long-term note for $23,600. e. Purchased $10,000 of equipment; paid $2,400 in cash and charged the rest on account. Required: For each of the events (a)...
For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. (Enter any decreases to account balances with a minus sign.) a. (Sample) Borrowed $5,540 from a local bank on a note due in six months. b. Received $6,230 cash from investors and issued common stock to them. C. Purchased $2,600 in equipment, paying $1,000 cash and promising the rest...
Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. a. Blue Light Arcade received $54 cash on account for a birthday party held two months ago. b. Agreed to hire a new employee at a monthly salary of $3,100. The employee starts work next month. c. Paid $2,100 for a table top hockey game purchased last month on account. d. Repaid a $5,100 bank loan that had been outstanding for six...