Question: Are my answers correct? Problem # 5 - Part A Below are several transactions for Clarke Corporation. A junior accountant, recently employed by the company,
Are my answers correct? Problem # Part A
Below are several transactions for Clarke Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.
Owners invest $ in the company and receive common stock.
Receive cash of $ for services provided in the current period.
Purchase office supplies on account, $
Pay $ for next month's rent.
Purchase office equipment with cash of $
Paid $ in cash dividends.
Assess whether the following journal entries are correct.
tableCorrect or Incorrect?,Accounts,Debit,Credit# In Correct,tableCommon StockCash# Corveut,tableCashService Revenue# Incorvent,tableSuppliesCash# Incorreut,tableRent ExpenseCash# incorreat,tableCashEquipment# incovveet,tableCashDividends
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