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July 25, 2014

Homework Help: accounting question

Posted by student acc on Tuesday, November 13, 2007 at 5:13pm.

I have to prepare a general journal entry for a company of transactions that they have done in the month of june. I have done a couple of them. But i haven't had one that says the following for the beginning:

S.Shelton, the owner, invested $105, 000 cash, office equipment with a value of $6,000, and $45,000 of drafting equipment to launch the business.

How would i set it up in the general journal entry.

this is what i think

i would first put
cash and place the 105,000 under debit
then under neath place office equipment and add the amounts 6,000+45,000 and that will give me 51,000 and i will place that under credit. Then I would have to write down the capital wouldn't i. Or should i do the capital on another line

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