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Waupaca company establishes a $380 petty cash fund on september 9.
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The seller postpaid the $323 loading charges, adding the amount to the invoice and delivery its total to $14,623.
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Connected september 30, the fund shows $121 in cash on with receipts for the following expenditures: transportation costs of merchandise purchased, $58; postage expenses, $53; and miscellaneous expenses, $143.
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Who is the owner of Connect Financial Accounting?
Madison Harris, the owner, invested $8,200 cash and $35,200 of photography equipment in the company in exchange for common stock. The company paid $3,800 cash for an insurance policy covering the next 24 months. The company purchased office supplies for $1,050 cash.
What are the accounts payable balances for Connect Financial?
The owner’s initial investment consists of $36,750 cash and $46,030 in land in exchange for its common stock.. The company’s $16,580 equipment purchase is paid in cash. The accounts payable balance of $7,250 consists of the $1,960 office supplies purchase and $5,290 in employee salaries yet to be paid.
What was initial investment in McGraw Hill connect?
On October 31, the company’s records show the following items and amounts. Also assume the following: The owner’s initial investment consists of $36,750 cash and $46,030 in land in exchange for its common stock.. The company’s $16,580 equipment purchase is paid in cash.
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We at Accounting Assignments Help provide Chapter 1 and 2 Homework (McGraw-Hill Connect) help with step by step calculation and explanation 24*7 from our accounting experts. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $82,780 in assets in exchange for its common stock to launch the business.
Last Update: Oct 2021
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