Question
Please complete the following tasks. You are a new business. 1. Decide on what type of organization you will form, sole proprietorship, partnership, corporation and
Please complete the following tasks. You are a new business. 1. Decide on what type of organization you will form, sole proprietorship, partnership, corporation and justify why you are choosing this form or organization.
Record the following transactions both in T-account and general journal form. A. You invested $25,000 cash to begin the business B. You purchased inventory for $5,000 on account. C. Your paid $1,000 for a computer in cash. D. You had sales revenue of $2,000 with $1,500 being in cash and the remaining $500 being on account. E. You had rent expense during the month of $500 F. You had utilities expense for the month of $200 G. You had office supplies expense for the month of $100. Please answer these questions and record the transactions in proper Journal format using debits/credits.
PLEASE HELP ME
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