Question
UrbanTech Solutions Transaction Description Amount 1 Issued common stock $150,000 2 Bought computers on credit $40,000 3 Paid office rent $8,000 4 Provided services on
UrbanTech Solutions
Transaction | Description | Amount |
1 | Issued common stock | $150,000 |
2 | Bought computers on credit | $40,000 |
3 | Paid office rent | $8,000 |
4 | Provided services on account | $50,000 |
5 | Paid employee salaries | $20,000 |
6 | Collected receivables | $35,000 |
7 | Paid for software licenses | $5,000 |
Requirement: Record journal entries and prepare a balance sheet.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
