Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help recording the following entries in the general journal. October 1 You contribute $ 45,839 for 100 shares of common stock in the
I need help recording the following entries in the general journal.
October
1 You contribute $45,839 for 100 shares of common stock in the new company.
1Nassir Patel's contribution to the business is $2,180 due on existing customer receivable accounts, $10,200 of new equipment. He receives 100 shares of common stock for this contribution.
2Paid $9,900 for next 6 months of rent by issuing Cheque 1008.
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