Seventh Investments, Inc. began by issuing ordinary shares for cash of $200,000. The company immediately...
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Seventh Investments, Inc. began by issuing ordinary shares for cash of $200,000. The company immediately purchased computer equipment on account for $120,000. The following T-accounts of Seventh Investments, Inc. have been opened for you: Cash, Computer Equipment, Accounts Payable, Share Capital. Record the first two transactions of the business directly in the T-accounts without using a joumal 2. Show that total debits equal total credits. 1 1. The following T-accounts of Seventh Investments, Inc. have been opened for you: Cash, Computer Equipment Accounts Payable, Share Capital. Record the first two transactions of the business directly in the T-accounts without using a Journal. (Use the first available cell to post transactions and leave unused cells blank.) Cash Computer Equipment Accounts Payable Share Capital 2. Show that lolal dobils equal tolal credits Compute the total debits and credits for the two transactions Total debits $320000 Total credits s320000
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