Rowdy Bolton Began Bolton Office Services, Inc

question 223

Essay

Rowdy Bolton began Bolton Office Services, Inc. in October and during that month completed these transactions:
a. Invested $10,000 cash, and $15,000 of computer equipment.
b. Paid $500 cash for an insurance premium covering the next 12 months.
c. Completed a word processing assignment for a customer and collected $1,000 cash.
d. Paid $200 cash for office supplies.
e. Paid $2,000 for October's rent.
Prepare journal entries to record the above transactions. Explanations are unnecessary.

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Definitions:

Modem

A hardware device that converts data between digital formats used by computers and analog signals used on telephone lines, enabling internet connectivity.

Network

A system of interconnected computers, devices, and technologies designed to communicate and exchange data.

Hub

A central point of connection in a network that redistributes data to various destinations.

Cloud Computing

The delivery of different services, including servers, storage, databases, networking, software, analytics, and intelligence, over the Internet to offer faster innovation, flexible resources, and economies of scale.