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Ming Chen began a professional practice on June 1 and plans to prepare financial statements at...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $60,000 cash in the company along with eguipment that had a $15,000 market value in exchange for its common stock. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $64,000 cash in the company along with equipment that had a $20,000 market value in exchange for its common stock. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Owner invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. The company paid $2,500 cash for rent of office space for the month. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). The...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions a. Owner Invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. b. The company paid $1,500 cash for rent of office Space for the month. C. The company purchased $10,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions: a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). d. The company completed...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June. Ming Chen (the owner) completed these transactions. a. Owner invested $61.000 cash in the company along with equipment that had a $13.000 market value in exchange for its common stock. b. The company paid $3.000 cash for rent of office space for the month. c. The company purchased $18.000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $60,000 cash in the company along with equipment that had a $26,000 market value in exchange for its common stock b. The company paid $2,700 cash for rent of office space for the month. C. The company purchased $14,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions a. Owner invested $59.000 cash in the company along with equipment that had a $14.000 market value in exchange for its common Stock b. The company paid $2,000 cash for rent of office space for the month C. The company purchased 511000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Owner invested $63,000 cash in the company along with equipment that had a $11,000 market value in exchange for its common stock. The company paid $1,200 cash for rent of office space for the month. The company purchased $11,000 of additional equipment on credit (payment due within 30 days). The...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $59,000 cash in the company along with equipment that had a $13,000 market value in exchange for its common stock. b. The company paid $2,300 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within...