Question
Problem 2-6A Recording transactions; posting to ledger; preparing a trial balance LO C3, A1, P1, P2 Business transactions completed by Hannah Venedict during the month
Problem 2-6A Recording transactions; posting to ledger; preparing a trial balance LO C3, A1, P1, P2
Business transactions completed by Hannah Venedict during the month of September are as follows. |
a. | Venedict invested $60,000 cash along with office equipment valued at $25,000 in exchange for common stock of a new company named HV Consulting. |
b. | The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a long-term note payable for $170,000. |
c. | The company purchased $2,000 of office supplies on credit. |
d. | Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,500 and is to be used exclusively in the business. |
e. | The company purchased $5,600 of additional office equipment on credit. |
f. | The company paid $1,800 cash salary to an assistant. |
g. | The company provided services to a client and collected $8,000 cash. |
h. | The company paid $635 cash for this month |
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