Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

Oa. Cash Ob. Cash Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal in good form? 40,000

image text in transcribed

Oa. Cash Ob. Cash Joshua Scott invests $40,000 into his new business. How would this transaction be entered in the journal in good form? 40,000 Joshua Scott, Loan 40,000 Invested cash in business. 40,000 Joshua Scott, Capital 40,000 Invested cash in business. OC. Joshua Scott, Capital 40,000 Cash 40,000 Invested cash in business. Od. Joshua Scott, Loan 40,000 Cash 40,000 Invested cash in business

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

ACCA Approved Study Text P7 Advanced Audit And Assurance

ACCA Approved Study Text P7 Advanced Audit And Assurance

Authors: BPP

1st Edition

1472744349, 978-1472744340

More Books

Students also viewed these Accounting questions

Question

★★★★★

Doggone Groomers is in the dog-grooming business. Its operating costs are described by the following formulas: Grooming supplies (variable) .... y = $0 + $4x Direct labor (variable) ..... y = $0 +...

Answered: 1 week ago

Question

★★★★★

For each of the situations described below, select the type of analytics that would address the specific organizational need and justify your selection. a. A mid-sized bank would like to provide as...

Answered: 1 week ago

Question

★★★★★

In general, popular magazines emphasize gender differences, rather than gender similarities. True or False

Answered: 1 week ago

Question

★★★★★

Compute trend percentages for Peak Valley Sales & Services total revenue and net income for the following five-year period, using year 0 as the base year. Round to the nearest full percent. Which...

Answered: 1 week ago

Question

★★★★★

Parts A & B please, thanks Suppose a 10 -year, $1,000 bond with a(n)11% coupon rate and semiannual coupons is trading for a price of $1,026.71. a. What is the bond's yield to maturity (expressed as...

Answered: 1 week ago

Question

★★★★★

Exercise 10-15 (Video) Horatio Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Compute the missing...

Answered: 1 week ago

Question

★★★★★

Control: On a monthly basis, each component controller performs a comparison of operating results to budget amounts for their respective component. Variances in excess of US$25,000 are investigated....

Answered: 1 week ago

Question

★★★★★

12. Prepare a Double Column Cash Book from the following with Cash & Bank Column. 2022 Jan. 1 Jan. 4 Balance in hand 6,000 and overdraft at Bank 7,000 Received a cheque from Avinash and Co. for goods...

Answered: 1 week ago

Question

★★★★★

A dog training business began on December 1. The following transactions occurred during its first month. December 1 Receives $33,000 cash as an owner investment in exchange for common stock. December...

Answered: 1 week ago

Question

★★★★★

15) If Cost of Goods Sold is $250,000, beginning inventory is $29,000, and ending inventory is $36,000, then the purchases from suppliers (assume all on account) would be: A) $257,000. B) $315,000....

Answered: 1 week ago

Question

★★★★★

Some schools of thought distinguish between the decision process (that is, the techniques and methods used to make decisions) and the decision outcome. Discuss why this distinction is important and...

Answered: 1 week ago

Question

★★★★★

(Appendices) COST OF PURCHASES. Compass, Inc., purchased 1,000 bags of insulation from Glassco, Inc. The bags of insulation cost $4.25 each. Compass paid Turner Trucking $260 to have all 1,000 bags...

Answered: 1 week ago

Question

★★★★★

(Appendices) TERMS OF SHIPMENT AND RECORDING PURCHASES. On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.0.B. shipping point, had a total invoice price...

Answered: 1 week ago

Question

★★★★★

(Appendices) SALES AND SALES RETURNS WITH DISCOUNTS. Fuente Office Supply sells all merchandise on credit with terms 2/10, n/30. Fuente engaged in the following transactions: a) May 1: Fuente sold 50...

Answered: 1 week ago

Previous Question Next Question