Accounting 202 Assessment Cyele Problem Your Name: he sen Cla City Park Yoga, In

Question

Accounting 202 Assessment Cyele Problem Your Name: he sen Cla City Park Yoga, Inc. Wren teaches yoga and meditation. Because she likes the quiet and contemplative outdoor environment, she opened her new spacious studio in a building overlooking City Park. She incorporated her new business, City Park Yoga, Inc. in the beginning of September in 2018 Part 1 Record your journal entries in the space provided below from the descriptions of each individual event. Sept 1. Wren invested 20,000 cash and $12,000 of equipment in the company in exchange for common stock Debit- L-Credit Sept. 1 Wren paid $4,500 cash in advance to pay for three months' rent on the studio. Account Debit Credit Sept. 1. Wren paid $3,000 cash in advance to pay for 6 months of insurance for her business. Date Account Debit1 Credit 2 3000

Explanation / Answer

All the journal entries in part 1 and adjusting entries in part 4 has been checked and all entries are correct.

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