Prepare Journal entries to record each of the following transactions For AAA Company. 1- Dec1, 1van...

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Prepare Journal entries to record each of the following transactions For AAA Company. 1- Dec1, 1van owner invested 10,000 cash in exchange for common stocks. 2- Dec5, the company purchased equipment for 1,000 cash. 3- Dec3, the company purchased 500 of supplies on account. 4- Dec10, the company provided consulting service and received 1,000 cash. 5- Dec12, the company paid 2,000 for its employees' salaries. Prepare the income statement for AAA Company from the following info 2007 Consulting revenue 550,000 Rental revenue 500,000 200,00 Salaries expense Rental expense 100,00 60,000 Utilities expanse Prepare Journal entries to record each of the following transactions For AAA Company. 1- Dec1, 1van owner invested 10,000 cash in exchange for common stocks. 2- Dec5, the company purchased equipment for 1,000 cash. 3- Dec3, the company purchased 500 of supplies on account. 4- Dec10, the company provided consulting service and received 1,000 cash. 5- Dec12, the company paid 2,000 for its employees' salaries. Prepare the income statement for AAA Company from the following info 2007 Consulting revenue 550,000 Rental revenue 500,000 200,00 Salaries expense Rental expense 100,00 60,000 Utilities expanse

Answer rating: 100% (QA)

Date Account title explanation Debit Credit Dec 1 Common stock 10000 Cash 10000 Dec 5 Equipment 1000 Cash 1000 ... View the full answer