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How do I record the following transaction in the financial worksheet provided? Thank you! :) Dennis sells additional shares of company stock to two investors
How do I record the following transaction in the financial worksheet provided? Thank you! :)
Dennis sells additional shares of company stock to two investors for $100,000 cash ($50,000 each). These shares represent a 25% interest in Becker Electronics.
Balance Sheet Assets Accounts Reveivable Income Statement Revenue minus Expenses = Net Income Legal Advertising Fees Rent Utilities Depreciation Accumulated Equipment Depreciation Liabilities Wages Payable Accounts Payable Equity Common Retained Stock Earnings 104,100 Notes Payable Cost of Revenue Goods Sold T# Inventory Deposits Wages Interest Net Income Cash 104,100 1 (4,500) 4,500 60,000 60,000 15,000 (7,000) 15,000 (7,000) 9 10 11 8,000 8,000 8,000 8,000 (8,000) 8,000 12 13 14 15 16 17 18 19 20 21 91,600 15,000 53,000 4,500 - 60,000 - 104,100 16,000 15,000 (7,000) 8,000 16,000 027 must balance with Z27 Balance Sheet Assets Accounts Reveivable Income Statement Revenue minus Expenses = Net Income Legal Advertising Fees Rent Utilities Depreciation Accumulated Equipment Depreciation Liabilities Wages Payable Accounts Payable Equity Common Retained Stock Earnings 104,100 Notes Payable Cost of Revenue Goods Sold T# Inventory Deposits Wages Interest Net Income Cash 104,100 1 (4,500) 4,500 60,000 60,000 15,000 (7,000) 15,000 (7,000) 9 10 11 8,000 8,000 8,000 8,000 (8,000) 8,000 12 13 14 15 16 17 18 19 20 21 91,600 15,000 53,000 4,500 - 60,000 - 104,100 16,000 15,000 (7,000) 8,000 16,000 027 must balance with Z27Step by Step Solution
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