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    vmop30's Avatar
    vmop30 Posts: 9, Reputation: 1
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    #1

    Jan 22, 2007, 08:01 PM
    journal entry
    How do I record the following entry:

    Owner invested $32,000 cash and equipment valued at $14,000 in the business. What accounts should I use?
    Help please!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jan 22, 2007, 10:49 PM
    Dr. Cash 32,000
    Dr. Equipment 14,000
    Cr. Capital 46,000

    Do you get to choose your capital accounts names? Perhaps Donated Capital might be better based on what kind of business this is, I will leave that up to you.
    vmop30's Avatar
    vmop30 Posts: 9, Reputation: 1
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    #3

    Jan 23, 2007, 12:46 PM
    Thank you CaptainForest. That solves my question
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #4

    Jan 23, 2007, 10:43 PM
    You're welcome
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