Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work 7. BOOK Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $90,000 cash along

image text in transcribed
image text in transcribed
Check my work 7. BOOK Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $90,000 cash along with office equipment valued at $22.000 in a new business named HV Consulting in exchange for common stock. b. The company purchased and valued at $50,000 and a building valued at $165,000. The purchase is paid with $30,000 cash and a long-term note payable for $185.000 c. The company purchased $2,000 of office supplies on credit d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16.700 and is to be used exclusively in the business e. The company purchased $5.900 of additional office equipment on credit. 1. The company paid $1.700 cash salary to an assistant 9. The company provided services to a client and collected $7600 cash. h. The company paid $640 cash for this month's utilities 1. The company paid $2.000 cash to settle the account payable created in transaction j. The company purchased $20,000 of new office equipment by paying $20,000 cash k. The company completed $6.500 of services for a client, who must pay within 30 days. 1. The company paid $1,800 cash salary to an assistant m. The company received $3.500 cash in partial payment on the receivable created in transaction n. The company paid a $2.800 cash dividend. were Reniert G

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions