Question

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1. D. Belle created a new business and invested $6,000 cash. $7600 of equipment, and $12,000 in web servers in exchange for common stock 2. The company paid $4,800 cash in advance for prepaid Insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $4,500 cash for services provided. 6. The company paid $900 cash toward accounts payable 7. The company paid $3.400 cash for equipment, View transaction list Journal entry worksheet < A B C D E F G Record the owner investment in exchange for stock Note: Enter debit before credits General Journal to search J OON " ("* $

Answer 1

Transaction General Journal Debit Credit $ $ $ 6,000 7,600 12,000 Cash Equipment Web servers Common Stock (Common stock issued in exchange of cash and assets) $ 25,600 2 $ 4,800 Prepaid Insurance Cash ( Insurance paid in advance) $ 4,800 3 $ 900 Supplies Accounts payable (Supplies purchased on credit) $ 900 4 $ 800 Selling expenses Cash ( Cash for the selling expenses) $ 800 $ 4,500 Cash Service Revenue ( Cash received from the sale of service) $ 4,500

$ 900 Accounts payable Cash (Amount paid to the crediors) $ 900 7 $ 3,400 Equipment Cash (Equipment purchased ) $ 3,400