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How to journalize this transaction ?
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Could you please check whether I did it right or wrong ? 1.Dwyer Delivery Service,a proprietorship, began operations by receiving from the owner $5000 cash and a truck valued at $10000. The business gave Paul Dwyer, the oener, capital in the business. answer Debit Cash 5000 ...
How to journalize these transaction
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5 Issued 2,100, $4.00 preferred shares in exchange for a truck. The shares are valued at $19.50 per share. The truck is expected to have a 250,000 km life, a residual value of $4,000, and is amortized using units of production. 5 Received an office building in exchange for 25,000 common shares....
Journalize the transaction
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Dear All, Could you please check my answer. I'm not sure whether I did them right or wrong. Thank you so much for your kindness. May 1 Purchased supplies for cash, $300 Debit Supplies 500 Credit Cash 500 May 4 Purchased inventory on credit terms of 3/10 net eom, $6000. Debit... View more questions Search
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