Question

On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $20,000 in exchange for shares of stock. A few of their friends also purchased stock for $14,000 that was deposited in The Wire account.

Account:     Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank           Dollar amount:   

Account:     Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank           Dollar amount:   

Account:     Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank           Dollar amount:   

Account:     Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank           Dollar amount:   

Account:     Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank           Dollar amount:   

Answer 1

Account	Cash	Dollar amount	14,000
Account	Paid-in-capital	Dollar amount	14,000
Account	Leave Blank	Dollar amount	-
Account	Leave Blank	Dollar amount	-
Account	Leave Blank	Dollar amount	-