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Business
Accounting
The transactions of Belle Company’s appear below. D. Belle created a new business and invested $6,000 cash, $7,600 of equipment, and $12,000 in web servers in exchange for common stock. The company paid $4,800 cash in advance for prepaid insurance coverage. The company purchased $900 of supplies on credit. The company paid $800 cash for selling expenses. The company received $4,500 cash for services provided. The company paid $900 cash toward accounts payable. The company paid $3,400 cash for equipment.

The transactions of Belle Company’s appear below. D. Belle created a new business and invested $6,000 cash, $7,600 of equipment, and $12,000 in web servers in exchange for common stock. The company paid $4,800 cash in advance for prepaid insurance coverage. The company purchased $900 of supplies on credit. The company paid $800 cash for selling expenses. The company received $4,500 cash for services provided. The company paid $900 cash toward accounts payable. The company paid $3,400 cash for equipment.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The transactions of Belle Company’s appear below.

  1. D. Belle created a new business and invested $6,000 cash, $7,600 of equipment, and $12,000 in web servers in exchange for common stock.
  2. The company paid $4,800 cash in advance for prepaid insurance coverage.
  3. The company purchased $900 of supplies on credit.
  4. The company paid $800 cash for selling expenses.
  5. The company received $4,500 cash for services provided.
  6. The company paid $900 cash toward accounts payable.
  7. The company paid $3,400 cash for equipment.

 

Use above information to prepare general journal entries for Belle Company’s 1 through 7 transactions.

 

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