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F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a...


F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a new company named Fastforward
Record Journal Entries: Remember Mnemonic: D.E.A.D. Dividend. Expense. Asset >>>normal Debit Balance Increase GENERAL ENTRIES
F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a new company named Fastforward in exchange for Common Stock 2 Purchase Supplies with Cash: Paid $2,500 Cash to purchase supplies 3 Purchase Equipment with Cash: Spend $26,000 Cash to acquire Equipment 4 Purchase Supplies on Credit: Purchased $7.100 Supplies and promise to pay later 5 Provide Services for Cash: Provided services to customers and got paid $4,200 Cash 6 Pay Rent expense Paid $1,000 for Office Rent 7 Pay Emplyee Wages Paid eployee's wage $700 8 Provide Services on Credit Provided consulting services to customers $1,900. The customers will pay next week 9 Payment of Account Receivable Received the payment of $1,900 from Transaction 8's Customer 10 Pay Dividend Paid $200 Cash Dividend to the owner.
Record Journal Entries: Remember Mnemonic: D.E.A.D. Dividend. Expense. Asset >>>normal Debit Balance Increase GENERAL ENTRIES Account Title and Explaination Credit Date Debit 36,000 0,00 Deel Cash (Common stock) office supply duit 2,500 2,500 2,500 Dree 2 Equity Liabilities + Common Stock Dividench + Renes 1 Ce for De for C. for SHALOS decrease Dr. for decreases Dr. for Cr for decreases increases + Normal C. for increases + Normal De for inces + Normal Defoe Cro decrease increases + Normal Hormal 23 LG
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