Question

Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation.

Answer 1

Answer:

Debit credit analysis of given journal entries.

Explanation:

1. Cash ac dr , Purchase (common stock) ac cr ... 30000

2. No entry for hiring only , No accrual or cash transaction takes place

3. Furniture ac dr, creditor/ accounts payable (Furniture supplier) ac cr ... 3800

6. Debtor/ accounts recievables (Roads') ac dr, Comission ac cr ... 10800

10. Cash ac dr, Comission ac cr ... 140

27. creditor/ accounts payable (Furniture supplier) ac dr, Cash ac cr ... 700

30. Salary ac dr, Cash ac cr 3000