Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all parts and please show the answer clearly. Aug. 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in
Please answer all parts and please show the answer clearly.
Aug. 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,663 cash. 20 The company received $2,050 cash in photography fees earned. 31 The company paid $884 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. Note: Enter debits before credits. Date General Journal Debit Credit Aug 01 Aug. 1 Madison Harris, the owner, invested $8,750 cash and $37,625 of photography equipment in the company in exchange for common stock. 2 The company paid $2,200 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,663 cash. 20 The company received $2,050 cash in photography fees earned. 31 The company paid $884 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet
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