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June 1: Cara made an investment in Byte of Accounting, Inc., by purchasing 2,580 shares of its common stock paying $42,900 in cash and by contributing computer equipment with a fair market value of $57,720. The par value of the common stock was $21 per share.
June 2: Check # 5002 was used to make a down payment of $35,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $175,000.00. A five-year note was executed by Byte for the balance.
June 16: Byte purchased a building and the land it is on for $113,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $18,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $11,300.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance.
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In Byte of Accounting , Inc. Worksheet For Period Ending June 30th 2011 the question is asked:
-A physical inventory showed that only $225.00 worth of office supplies remained on hand as of June 30.
when heated,water freeze and become solid
when heated,water freeze and becomesolid
that is an illogical statement
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