Question

Determine how the accounts would be affected (increase or decrease and debit or credit) for the following transactions occurring in January 2009 for Networking Solutions, Inc.:
1. The company received $25,000 cash from the owner in exchange for common stock.
2. The company purchased $10,000 of new office computers on account.
3. The company sold $2,500 of inventory for cash.



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  • CreatedSeptember 01, 2014
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