Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ryan Tergartzed a new remet company, CapLowrie Inc. The company speciate in babal type caps we athen Shyan, who never w coed the tra 4
Ryan Tergartzed a new remet company, CapLowrie Inc. The company speciate in babal type caps we athen Shyan, who never w coed the tra 4 2500 sh cap, beeves that i soon par value conson cock to inson for cach at $25 per share Growd $0,000 on the bark o begin operatur 1 Ped $2,000 castor ront of a warehouse $300 for the cument Pe $2300 R year fee insurance policy on the warehouse reconded as a prepaidexpenses tures for the warehouse for $17000, paying $3600 cash and the rest on Puthad fun within 30 days in two year cost The amount Purchased for $2,900 cash The University of Pennsylvania, Notre Dame, The University of Texas at Ausen The O University and Michigan State University baseball caps as invertory to sell online Placed advertiments on Google for a total of $280 cash; the ads were nun immediately Sold cape stang $2,400), half of which was charged on account Made ful payment for the future and timures purchased on account in se eceved $290 from a custcener on account Required cape sold was $1000 in Maka Prepare uralettes for each transaction. Note that transaction he will require two eneses, one for revenue and one for the red expense of no entry is required for a transaction/event, select "No journal entry required in the first account field Journal entry worksheet " > 2.300hrs of $0.01 per value common stock to infor $25 per share Tassadin . University, and Michigan State University baseball caps as Inventory to sell online g. Placed advertisements on Google for a total of $200 cash the ads were nun immediately Sold caps totaling $2,400, half of which was charged on account. The cost of the caps sold was $1.600 gt Make two res) 1. Made full payment for the fumiture and fixtures purchased on account in (9) Received $290 from a customer on account Required Prepare journal entries for each transaction. Note that transaction he will require two ontnes, one for revenue and one for the related expense. If no entry is required for a transaction/event, select "No journal entry required" in the first account field) Note Issued 2.500 shares of $0.01 par value common stock to investors for cash at $25 per share. Borrowed $69,000 from the bank to provide additional funding to begin operations: the note is due in two years. Paid $1,300 for the current month's rent of a warehouse and another $1.300 for next month's rent. Paid $2,160 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). Purchased furniture and futures for the warehouse for $17,000. paying $3,600 cash and the rest on account. The amount is due within 30 days. joumal entry has been entered Recordandry Cewelry 11 cash at Credit punan n when purchased on account inte Received $290 from a customer on account Required Prepare joumal entnes for each transaction. Note that transaction (8 will require two entries, one for revenue and one for the related expense. If no entry is required for a transaction/event, select "No Joumal entry required in the first account field) View transaction nat Purchased furniture and fortures for the warehouse for $17,000, paying $3.600 cash and the rest on account. The amount is due within 30 days. Purchased for $2.900 cash The University of Pennsylvania. Notre Dame, The University of Texas at Austin, and Michigan State University baseball caps as inventory to sell online. Placed advertisements on Google for a total of $280 cash: the ads were run immediately Sold caps totaling $2,400, half of which was charged on account. The cost of the caps sold was $1.600. Record the sale. Note journal entry has been entered Record entry Car entry x 11 > cash at Credit View generat journal Received $290 from a customer on account Required Prepare journal entries for each transaction. Note that transaction ( will require two entries, one for revenue and one for the related expense. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Placed advertisements on Google for a total of $280 cash; the ads were run immediately. Sold caps totaling $2,400, half of which was charged on account. The cost of the caps sold was $1,600. Record the sale. Sold caps totaling $2.400, half of which was charged on account. The cost of the caps sold was $1,600. Record the cost of the sale. Made full payment for the fumiture and fixtures purchased on account in (e). 11 Received $290 from a customer on account. journal entry has been entered Notw Record entry Centr cash at " > ' Credit
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