Create journal entries for all other (non-inventory) owner contributions View the Video: Owner Contributions / Investments...

 

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Create journal entries for all other (non-inventory) owner contributions View the Video: Owner Contributions / Investments To enter all owner contributions, you may create one or multiple JEs. Determine the correct account to debit from the list below and credit: Owner's Investments. Reminder: all of the items below were paid by Casey from his personal bank account. Also remember to put the description of each item in the JES. Table 5: Owner's Contributions/Investments Date 3/1 3/1 3/1 3/5 3/10 3/15 3/25 o Journal Entries in QuickBooks Online The transcript is in Content/Course Resources/Projects & Rubrics/Project 2 3/31 Description *Rental Deposit (Refundable) *1st month rent - March (prior to opening) *Electricity Deposit (Refundable) *Chesapeake Communications Network Deposit (nonrefundable) *Gallery set up supplies - paint for walls, cleaning supplies, lumber for building shelves/racks "Miscellaneous art supplies for classes 4 large Art displays (Fair market value at time of contribution = $450 each) Owner's deposit to open a business bank account Account Refundable deposits Rent expense Refundable deposits Utilities: Phone & Internet Office Supplies Art Supplies expense Art Displays Casey's Crafts Bank Amount $2,500 3,000 900 300 435 750 1,800 22,500 Total: $32,185 Create journal entries for all other (non-inventory) owner contributions View the Video: Owner Contributions / Investments To enter all owner contributions, you may create one or multiple JEs. Determine the correct account to debit from the list below and credit: Owner's Investments. Reminder: all of the items below were paid by Casey from his personal bank account. Also remember to put the description of each item in the JES. Table 5: Owner's Contributions/Investments Date 3/1 3/1 3/1 3/5 3/10 3/15 3/25 o Journal Entries in QuickBooks Online The transcript is in Content/Course Resources/Projects & Rubrics/Project 2 3/31 Description *Rental Deposit (Refundable) *1st month rent - March (prior to opening) *Electricity Deposit (Refundable) *Chesapeake Communications Network Deposit (nonrefundable) *Gallery set up supplies - paint for walls, cleaning supplies, lumber for building shelves/racks "Miscellaneous art supplies for classes 4 large Art displays (Fair market value at time of contribution = $450 each) Owner's deposit to open a business bank account Account Refundable deposits Rent expense Refundable deposits Utilities: Phone & Internet Office Supplies Art Supplies expense Art Displays Casey's Crafts Bank Amount $2,500 3,000 900 300 435 750 1,800 22,500 Total: $32,185

Answer rating: 100% (QA)

1 2 JOURNAL ENTRIES 3 Date 31 4 5 6 7 8 9 LO 11 L2 L3 14 15 L6 17 18 19 20 21 22 23 24 25 26 27 28 2... View the full answer