Cheryl Fereday Began an Engineering Design Company and During the Month

question 15

Essay

Cheryl Fereday began an engineering design company and during the month of October completed these transactions:(a) Began business by investing cash, $11,000, and computer equipment with a fair value of $3,000.(b) Paid rent for one year in advance, $3,000.(c) Completed a beam design and billed the client for $3,000.(d) Paid the utilities bill for the month, $100.(e) Wrote a $1,000 cheque on the business bank account for personal expenses. Prepare journal entries to record the above transactions. Include a brief description for each entry.

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Definitions:

Media

Channels or systems of communication that distribute information and entertainment to a wide audience.

Real World

The sphere of everyday life and experiences outside of fictional, virtual, or theoretical environments.

Ideology

A system of ideas, beliefs, and values that shapes the way individuals or groups see the world and influences their behavior and decisions.

Worldview

The fundamental cognitive orientation of an individual or society encompassing natural philosophy, fundamental existential and normative postulates, or themes, values, emotions, and ethics.