Journal Entries and Statement Preparation
Journal Entries and Statement preparation 1. On January 1, 2005 Frances Corporation started doing business and the owners contributed $200,000 capital in cash. 2. The company paid $24,000 to cover the rent for the office space for the 24 month period from January 1, 2005 to December 31, 2006. 3. On March 1, 2005 MSK Inc