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On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $21,000 in exchange for shares
On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $21,000 in exchange for shares of stock. A few of their friends also purchased stock for $11,000 that was deposited in The Wire account. [Note: Combine both transactions into one entry.] The company quickly acquired $45,000 in inventory, 60% of which was paid for in cash. The rest was acquired on open accounts that were payable after 30 days. Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: transaction first, and the complete March 31 adjusting entry second.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Tries 0/5 The owners paid $2,000 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 $6,500 for some advertising in local newspapers. [Note: Combine both transactions into one entry.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: second.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Wages and salaries in March were $11,500, of which $8,200 was actually paid to employees. Miscellaneous expenses were $1,000, all paid for with cash. Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Tries 0/5 complete March 31 depreciation adjusting entry second, and the complete March 31 interest adjusting entry third.] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: R-1- 1:111+1:n 11L11 n 11 4 Iries U/
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