An owner invests $15,000 cash along with equipment having a market value of $23,000 in a company.

Question:

An owner invests $15,000 cash along with equipment having a market value of $23,000 in a company. Prepare the necessary journal entry.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamental Accounting Principles Volume 2

ISBN: 9780077716660

21st Edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

See More Books

Question Posted: Jul 12, 2024 10:05 AM

See More Questions

The company paid $8710 cash to settle to pay for the equipment purchase and transaction how do you post it on the journal entry
if the inventory was $493,306 and a phicial inventory count was made and the total should be $493,115 what would be the journal entry
The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,600 Supplies...
6. Using the information provided above calculate the Rate of Return on Farm Assets (ROFA) for 2017 and 2018 Assets Current assets Noncurrent assets Liabilities Current liabilities Noncurrent...
If n = 200 and X-bar = 50, construct a 95% confidence interval estimate for the population proportion.
For parts (a)-(e), use the function y=x2 from x=0 to x=1 with n equal subintervals and the function evaluated at the right-hand endpoints. (a) Find a formula for the sum of the areas of the n...
Describe three kinds of organizations and the three levels of strategy in them. LO.1
1. How does Bostrom explain the ideas of morphological freedom and reproductive freedom? How are they different? 2. How does Bostrom characterize the concerns of bioconservatives? 3. Explain why...
A finance lease agreement calls for quarterly lease payments of $5,473 over a 15-year lease term, with the first payment on July 1, the beginning of the lease. The annual interest rate is 12%. Both...
Describe the link between the income statement and the statement of owner's equity.
Review the annual report of MCI and answer the following questions. a. Compute current assets, total communications systems (net), current liabilities, long-term debt, and stockholders equity as a...
(a) Sabrina has two employments throughout 2023-24. Calculate the refund of NICs due for the year if her regular monthly earnings from the two employments are: (i) 1,200 and 1,500 (ii) 2,600 and...
The relationship between income and savings, let's look back to the recent credit crisis that sent our economy into the greatest financial crisis since the Great Depression. Watch this short video...
Jos Lpez has $15,000 in a 6-year certificate of deposit (CD) that pays a guaranteed annual rate of 4%. Create a timeline showing when the cash flows will occur. (6 points) 2. Oliver Lpez deposits...
PROBLEM SET #2 At a large urban college, about half of the students live off campus in various arrangements, and the other half live on campus. Is academic performance dependent on living...
Post a compelling argument stating whether leaders are born, made, or a combination of both. Drawing from the discussion of the two current peer-reviewed articles you identified, support your...
Unicorn Inc. builds commercial jets and calculate the cost for each jet. For each item below, indicate whether it would be most likely classified as direct labor (DL); direct materials (DM);...
Selected transactions for Sandusky Company during December of the current year are listed in Problem 6-5A. Instructions Journalize the entries to record the transactions of Sandusky Company for...
Review Exhibit 11.4. Analyze each product on the graph according to the characteristics that influence the rate of adoption. For example, what can you conclude from the data about the relative...
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...

An owner invests $15,000 cash along with equipment having a market value of $23,000 in a company.

Question:

Step by Step Answer:

Fundamental Accounting Principles Volume 2

Students also viewed these Business questions