Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Doing this review and its asking to put the transactions into this format. Description of transaction 01. June 1: Byte of Accounting, Inc. acquired $65,000
Doing this review and its asking to put the transactions into this format.
Description of transaction 01. June 1: Byte of Accounting, Inc. acquired $65,000 in cash from Lauryn and issued 2,600 shares of its common stock. 02. June 1: Byte of Accounting, Inc. issued 2,600 shares of its common stock to Manuel Marquez after $27,750 in cash and computer equipment with a fair market value of $37,250 were received June 1: Byte of Accounting, Inc, issued 2,674 shares of its common stock after acquiring from 03. Courtney $53,750 in cash, computer equipment with a fair market value of $12,000 and office equipment with a fair value of $1,100. was purchased for $150,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $400 was purchased on credit from Discount Computer Corporation A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled cells. Description of transaction 01. June 1: Byte of Accounting, Inc. acquired $65,000 in cash from Lauryn and issued 2,600 shares of its common stock. 02. June 1: Byte of Accounting, Inc. issued 2,600 shares of its common stock to Manuel Marquez after $27,750 in cash and computer equipment with a fair market value of $37,250 were received June 1: Byte of Accounting, Inc, issued 2,674 shares of its common stock after acquiring from 03. Courtney $53,750 in cash, computer equipment with a fair market value of $12,000 and office equipment with a fair value of $1,100. was purchased for $150,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $400 was purchased on credit from Discount Computer Corporation A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled cells Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started