Prepare Journal Entries in Good Form for the Following Transactions

question 119

Essay

Prepare journal entries in good form for the following transactions for the Calorie Corp.
a.Owner invested cash of $12,000 and office equipment valued at $7,500 into the business,receiving common shares in exchange.
b.Purchased supplies for cash,$1,000.
c.Paid $750 for one months rent on the store.
d.Billed a client $1,500 for services rendered.
e.Owner received a dividend of $300.

Understand the impact of market periods and perishability on supply elasticity

Describe how consumer preferences and income changes affect demand

Recognize the importance of substitutes and necessities in determining demand elasticity

Analyze the relationship between price changes, demand, and consumption for different products

---

Definitions:

Vegetables

Plant-based foods that are eaten as part of a meal, often containing vitamins, minerals, and dietary fiber beneficial for health.

Vitamin Pills

Supplements in pill form that contain vitamins which may be taken to address nutrient deficiencies or for general health.

Vegetables

A category of plants consumed as food, rich in nutrients, fiber, and vital for a healthy diet.

Healthy Nutrition

Eating a balanced diet that provides essential nutrients needed for maintaining health, vitality, and preventing diseases.