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help with transactions options for accounts are: cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest payable, wages payable, notes payable, paid-in
help with transactions
Transaction 1 On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $25,000 in exchange for shares of stock. A few of their friends also purchased stock totaling $11,000 that was deposited in The Wire account. Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Transaction 2 The company quickly acquired $45,000 in inventory, 70% of which was paid for in cash. The rest was acquired on open accounts that were payable after 30 days. Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Transaction 3 A one-year store rental lease was signed on March 1 for $14,400 for the year, and rent for the first 3 months was paid in advance. [Note: Record the complete entry for the March 1 transaction first and the complete adjusting entry on March 31 second.] Dollar Account: amount: I Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Transaction 4 The owners paid $2,500 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners also paid $5,500 for some advertising in local newspapers. [Note: Combine both transactions into one entry]. Dollar Account: amount: I Account: Dollar amount: Dollar Account: amount: Dollar Account: amount: Account: Dollar amount: Transaction 5 Sales were $70,000. Merchandise was sold for 2.5 times its purchase cost. 70% of the sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Account: Dollar amount: Transaction 6 Wages and salaries in March were $11,800, of which $8,400 was actually paid to employees Dollar Dollar Dollar Dollar Dollar Account: amount: I Account: amount: Account: amount: Account: amount: | Account: amount: Transaction 7 Miscellaneous expenses were $1,400, all paid for with cash. Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Dollar Account: amount: Transaction 8 On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,500 and a $4,500 note, payable in one year. Interest of 6.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 11 years with no expected salvage value. [Note: Record the complete entry for the March 1 equipment purchase first, the March 31 depreciation adjusting entry second, and the March 31 interest adjusting entry third. Also, round all answers to the nearest cent.] Dollar Account: amount: Account: Dollar amount: Dollar Account: amount: Dollar Account: amount: Account: Dollar amount: Account: Dollar amount: Accoun Dollar amount: Account: Dollar amount options for accounts are: cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest payable, wages payable, notes payable, paid-in capital, retained earnings, and (leave blank)
any help would be appreciated
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