The commercial activity of "Bank of America" begins on March 1, 2019 with a capital of $ 200,000.- divided into 20,000 shares of $ 10 each, whose partners Christina Paul and Charles prinston agree to contribute $ 100,000 each. It will be dedicated to the toy trade and that day the integration will be carried out as follows: Christina Paul: 90 dolls at $ 100.- each, a commercial space for $ 60,000.- with a mortgage of $ 10,000.- on the premises, computer equipment for $ 5,000.- and an electrical system attached to the roof for $ 1,000.- Charles Prinston: 10 metegoles at $ 150.- each, payments in favor of the company for $ 1,000.-, cash for $ 30,000.-, undocumented debts NOT originated by purchases of merchandise for $ 1,000.-, a truck for delivery of toys for $ 30,000.- and a pledge on the truck for $ 15,000.- During the month of March 2019, it carries out the following operations: 3/5: Open a checking account at City Bank and deposit a quarter of the cash. The bank deducts $ 100.- for opening the checking account. 3/8: Wardrobes, chairs and desks are bought for $ 2,000.-. 50% is paid in cash and the rest by means of a check from City Bank. 03/10: 10 kartings are bought at $ 200.- each. The freight is paid for $ 150.- The payment conditions are: 50% in cash and the rest with a 15-day promissory note. 03/15: 4 dolls are sold for $ 200 each that cost $ 100 each. It is cashed with a check a day. Register the sale and the CMV. 03/25: The payment of 03/10 is paid in cash. 03/28: The partners integrate what is owed in cash. 03/31: A pledge of the pledge is paid for $ 1,200.- in cash. 03/31: The electricity bill for the month of March is paid for $ 150.- in cash.

QUESTIONS;

1) Record the entries in the journal book 

2) Indicate the type of variation of each entry and the variation of the assets. 

3 )detail the endorsement of each registration 

4) wholesale accounts that have more than one movement 

5) Present the Statement of Income and the Statement of Equity Position as of 03/31/2019.

Answer rating: 100% (QA)

1 Record the entries in the journal book 31 Capital Christina Paul and Charles Prinston each contribute 100000 to the Bank of America for a total of 200000 in capital 38 Purchases The Bank of America ... View the full answer