On March 1, the three classmates opened a checking account for The Wire at a loc
ID: 2530551 • Letter: O
Question
On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $25,000 in exchange for shares of stock. A few of their friends also purchased stock totaling $11,000 that was deposited in The Wire account. (choose an option for the account and answer the dollar amount based on the account)
1) Account: Dollar Amount:
A)Cash B) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
2)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
3)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
4)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
5)Account: Dollar Amount:
Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
Explanation / Answer
Account Dollar amount Cash 86000 Paid-in capital 86000
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