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Aerial Views - Journal Entries

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 ...

Solution Summary

This solution is comprised of answer to prepare journal entries and trial balance for Aerial Views.

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