Nancy Mulles established the Mulles Data Encoders on May 15, 2004. The following transactions occurred during the month:
a.Mulles invested P157000 cash to establish the business.
b.Bought office desks and filing cabinet for cash, 15,150.
c.Mulles invested in the business her personal computer with a fair market value of 57,500.

Established the t-accounts: cash; accounts receivable; supplies; office equipment; computer software; signage; accounts payable; Mulles, capital; Mulles, withdrawals; service revenues; salaries expense; advertising expense; rent expense; utilities expense and miscellaneous expense.

Nancy Mulles established the Mulles Data Encoders on May 15, 2004. The following transactions occurred during the month:
a.Mulles invested P157000 cash to establish the business.
b.Bought office desks and filing cabinet for cash, 15,150.
c.Mulles invested in the business her personal computer with a fair market value of 57,500.

Established the t-accounts: cash; accounts receivable; supplies; office equipment; computer software; signage; accounts payable; Mulles, capital; Mulles, withdrawals; service revenues; salaries expense; advertising expense; rent expense; utilities expense and miscellaneous expense.

Hi, babyreze!

So, what is your question, please? Are you looking for someone knowledgeable to help you to figure something out?

Thanks!

First thing to do is set up a T-account for all of your accounts with the starting account balances, then you will need to post your transactions to iyour T-accounts.

What would be the journal entry for letter C?

C will be a Debit to Computer, which is an asset known as Property, Plant, and Equipment(PP&E) for the fair value of the computer and a Credit to Mulles, Capital, which is Owners Equity.