Question

prepare compound journal entries for each transaction.
a. the owner invests $9,000 cash and $6,000 of equipment in the company in exchange for common stock
b. the company acquires $4,500 of supplies by paying $1,000 cash and putting $3,500 on credit (accounts payable)
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journal entry worksheet
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the owner invests $9,000 cash and $6,000 of equipment in the company in exchange for common stock..
note: enter debits before credits.
transaction general journal debit credit
a. cash 9,000
common stock

Explanation:

Step1: Analyze transaction a

Debit Cash $9,000$, debit Equipment $6,000$, credit Common - stock $15,000$.

Step2: Analyze transaction b

Debit Supplies $4,500$, credit Cash $1,000$, credit Accounts payable $3,500$.

Answer:

Transaction a:

General Journal	Debit	Credit
Equipment	6000
Common stock		15000

Transaction b:

General Journal	Debit	Credit
Cash		1000
Accounts payable		3500