Question
Transaction Description of transaction 01. June 1: Lauryn made an investment in Byte of Accounting, Inc. by purchasing 4,250 shares of its common stock for
Transaction | Description of transaction |
01. | June 1: Lauryn made an investment in Byte of Accounting, Inc. by purchasing 4,250 shares of its common stock for $127,542.50 cash. The par value of the common stock was $0.01 per share. |
02. | June 1: Jessie made an investment in Byte of Accounting, Inc., by purchasing 2,520 shares of its common stock paying $30,910.30 in cash and by contributing computer equipment with a fair market value of $44,714.90. The par value of the common stock was $0.01 per share. |
03. | June 1: Courtney made an investment in Byte of Accounting, Inc., by purchasing 564 shares of its common stock by contributing computer equipment with a fair market value of $15,605.20 and office equipment with a fair value of $1,320.44. The par value of the common stock was $0.01 per share. |
04. | June 2: Check # 5002 was used to make a down payment of $31,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $155,000.00. A five-year note was executed by Byte for the balance. |
journalize enteries
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