Current Attempt in Progress Your answer is partially correct. William Davis engaged in the following activities in establishing his photography studio, Oriole: 1. Opened a bank account in the name of Oriole and deposited $8,380 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $900. The business paid $360 in cash, and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers. Prepare the journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Cash Common Stock 2. Supplies Cash Accounts Payable 3. No Entry No Entry eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 2 of 3 used Submit Answer Current Attempt in Progress Your answer is partially correct. William Davis engaged in the following activities in establishing his photography studio, Oriole: 1. Opened a bank account in the name of Oriole and deposited $8,380 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $900. The business paid $360 in cash, and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers. Prepare the journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Cash Common Stock 2. Supplies Cash Accounts Payable 3. No Entry No Entry eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 2 of 3 used Submit Answer

Current Attempt in Progress Your answer is partially correct. William Davis engaged in the following activities in establishing his photography studio, Oriole: 1. Opened a bank account in the name of Oriole and deposited $8,380 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $900. The business paid $360 in cash, and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers. Prepare the journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Cash Common Stock 2. Supplies Cash Accounts Payable 3. No Entry No Entry eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 2 of 3 used Submit Answer Current Attempt in Progress Your answer is partially correct. William Davis engaged in the following activities in establishing his photography studio, Oriole: 1. Opened a bank account in the name of Oriole and deposited $8,380 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $900. The business paid $360 in cash, and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers. Prepare the journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Cash Common Stock 2. Supplies Cash Accounts Payable 3. No Entry No Entry eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 2 of 3 used Submit Answer

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 60P

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