Part 1: Cathy Forth Photography Services (20 marks) You have been hired by Cathy Forth
Question:
Part 1: Cathy Forth Photography Services (20 marks)You have been hired by Cathy Forth as her new bookkeeper. She has given you the following information: Use the current date and provide an appropriate explanation.
Sept 1 Cathy Forth invested $12,000 cash and $800 worth of photo supplies in a new photography business
Sept 3 Purchased studio equipment from Best Pics Co. $3,500 cash
Sept 5 Received $550 cash for her first photographic session
Sept 6 Cathy took home $50 worth of photo supplies to use as a gift for her niece's birthday
Required:
Journalize the above entries. (12 marks)
Post the journal entries to the ledger. (8 marks)
Corporate Finance
ISBN: 978-0071339575
7th Canadian Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Ro