accounting question

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. English :Journal entry

    We have been assinged a tast to write a journal entry essay on a subordinate group. I have all of the information but have no idea on how to make a journal (I have never had one of those) any ideas would be great. Thanks Jeff A journal …
  2. Accounting

    Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of June. June 1 Purchased $8,100 of merchandise on …
  3. College Accounting

    An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each …
  4. accounting

    Your team has been assigned the duty to diagram the audit trail for your company. In your diagram, show several transactions and how they would be tracked from the journal entry to the financial statement and back to the journal entry
  5. accounting

    A company uses a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. A perpetual inventory system is used. The following transactions were completed by the company during the current …
  6. accounting

    An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for each …
  7. Accounting

    On June 1, Melendez Company borrows $90,000 from First Bank on a 6-month, $90,000, 12% note. Instructions (a) Prepare the entry on June 1. (b) Prepare the adjusting entry on June 30. (c) Prepare the entry at maturity (December 1), …
  8. Accounting

    On Hune 1, Coble Company Ltd. borrows $40,000 from first Bank on a 6-month, $40,000, 9% note. The note matures on December 1. a) Prepare the entry on June 1. b)Prepare the adjusting entry on June 30. c) Prepare the entry at maturity(december …
  9. Accounting

    On June 1, Coble Company Ltd. borrows $64,000 from First Bank on a 6-month, $64,000, 9% note. The note matures on December 1. (List multiple debit/credit entries from largest to smallest.) a) Prepare the entry on June 1. b) Prepare …
  10. accounting

    Your review of the general ledger of Home Interior Improvements and Designs Company reveals a beginning capital balance of $25,000. You also review the general journal for the accounting period and find the closing entries shown on …

More Similar Questions