Question

On March 1, the three classmates opened a checking account for The Wire at a local...

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:   

Homework Answers

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                 -  
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