Aerial Views - Journal Entries
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Wendy Winger organized a corporation to provide aerial photography services. The company called, Aerial Views, began operations immediately. Prepare journal entries, trial balance. Total assets, total liabilities, and owners' equity.
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Wendy Winger organized a corporation to provide aerial photography services. The company called, Aerial Views, began operations immediately. Prepare journal entries, trial balance. Total assets, total liabilities, and owners' equity
June 1 Cash 60,000
Capital Stock 60,000
When the company issues capital stock to Wendy for cash, we have to debit cash and credit capital stock.
June 2 Aircraft 220,000
Cash 40,000
Notes Payable 180,000
When purchasing the aircraft, the company has to debit aircraft account and credit cash and notes payable ...
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