Rowdy Bolton Began Bolton Office Services in October and During

question 239

Essay

Rowdy Bolton began Bolton Office Services in October and during that month completed these transactions:
a.Invested $10,000 cash and $15,000 of computer equipment in the business in exchange for common stock.
b.Paid $500 cash for an insurance premium covering the next 12 months.
c.Completed office services 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:

Hydrocarbon Skeleton

The backbone of organic molecules composed entirely of carbon and hydrogen atoms.

G3P

Glyceraldehyde 3-phosphate, a key intermediary molecule in both the glycolysis and Calvin cycles, involved in the metabolic process of producing energy.

Fatty Acids

Long chains of hydrocarbon ending with a carboxyl group, essential in diet and biological functions.

Calvin Cycle

A series of biochemical reactions taking place in the chloroplasts of plants during photosynthesis where carbon dioxide is converted into glucose.