Transactions for Crane Company for the month of June are presented below. June 1 Issues common stock to investors in exchange for $4,960 cash.
2 Buys equipment on account for $1,720. 3 Pays $930 to landlord for June rent.
12 Sends Wil Wheaton a bill for $820 after completing welding work.

Required:
Journalize the transactions.

1. Dr Cash $4,960

Cr Common Stock Issues $4,960

2. Dr Equipment $1,720

Cr Accounts Payable $1,720

3. Dr Rent Expenses$930

Cr Cash $930

4. Dr Service receivables $820

Cr Service Revenue $820

Explanation:

Preparation of the journal entries

1. Dr Cash $4,960

Cr Common Stock Issues $4,960

2. Dr Equipment $1,720

Cr Accounts Payable $1,720

3. Dr Rent Expenses$930

Cr Cash $930

4. Dr Service receivables $820

Cr Service Revenue $820

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to