Answer:money income
Explanation: I think it’s money income not for sure though
The ending balance in the cash account for the month of july is 25,000
Answer:
The Journal entry for each of the transaction is as follows:
(i) On June 1,
Cash A/c Dr. $5,000
To Oleg Thorn's capital A/c $5,000
(To record the capital invested)
(ii) On June 2,
Equipment A/c Dr. $3,600
To accounts payable $3,600
(To record the purchase of equipment on account)
(iii) On June 3,
Rent Expense A/c Dr. $800
To cash A/c $800
(To record the rent paid)
(iv) On June 12,
Accounts receivable - K. Johnsen A/c Dr. $400
To service revenue $400
(To record the service revenue)
The accounts to be debited and credited for each transaction is as follows:
(i) On June 1,
Debit = Cash and Credit = Oleg Thorn's capital
(ii) On June 2,
Debit = Equipment and Credit = accounts payable
(iii) On June 3,
Debit = Rent Expense and Credit = cash
(iv) On June 12,
Debit = Accounts receivable - K. Johnsen and Credit = service revenue
Static strength is the answer ^ ^
It's either Opening Entry or Account title following this order
Who, what, and When.
Who would be the company or the person's name
What would be if it's a balance sheet, income statement, Chart of accounts, or trial balance.
When is the date.
Example
Stockholm's Company
Balance Sheet
February 1, 2015
