HW Problem 2.1 - A) Record in the general journal, B) post to the general ledger,...

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HW Problem 2.1 - A) Record in the general journal, B) post to the general ledger, and then C) prepare a trial balance. 11/4 Quincy Jones invested $90,000 into Music Corp (MC) in exchange for common stock. 11/5 MC paid $6,000 for 6 month's rent in advance (check #93). 11/6 MC performed $20,000 of services for Ghost Records on account (invoice #21.) 11/7 MC purchased $40,000 of recording equipment on account from Sony Corp. (invoice #6J92313). 11/8 MC received $50,000 in advance from EMC Record Co. for services to be performed next year. 11/12 MC provided services to Capitol Record Co. and received $18,000 (invoice #22). 11/13 MC issued check # 94 to purchase $2,000 of supplies from Music Barn. 11/14 MC received $20,000 from Ghost Records for services performed 11/6. 11/15 MC paid $9,000 wages to backup artists (checks #95-96). 11/22 MC placed an advertisement in Rolling Stone magazine and received invoice # 512350 for $4,500. 11/23 MC issued check # 97 to pay for recording equipment purchased 11/7. 11/24 MC received invoice #60921 for $5,500 from Guard Co. for security received in November. HW Problem 2.1 - A) Record in the general journal, B) post to the general ledger, and then C) prepare a trial balance. 11/4 Quincy Jones invested $90,000 into Music Corp (MC) in exchange for common stock. 11/5 MC paid $6,000 for 6 month's rent in advance (check #93). 11/6 MC performed $20,000 of services for Ghost Records on account (invoice #21.) 11/7 MC purchased $40,000 of recording equipment on account from Sony Corp. (invoice #6J92313). 11/8 MC received $50,000 in advance from EMC Record Co. for services to be performed next year. 11/12 MC provided services to Capitol Record Co. and received $18,000 (invoice #22). 11/13 MC issued check # 94 to purchase $2,000 of supplies from Music Barn. 11/14 MC received $20,000 from Ghost Records for services performed 11/6. 11/15 MC paid $9,000 wages to backup artists (checks #95-96). 11/22 MC placed an advertisement in Rolling Stone magazine and received invoice # 512350 for $4,500. 11/23 MC issued check # 97 to pay for recording equipment purchased 11/7. 11/24 MC received invoice #60921 for $5,500 from Guard Co. for security received in November.

Answer rating: 100% (QA)

Sure I can help you with recording these transactions Here are the journal entries A General Journal ... View the full answer