Record the owners investment in the company inventory

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Reference no: EM132710124

Problem 1: Record the owner's investment in the company inventory.

On July 1, 2021, you, the company owner, have invested $15,000 of your own money into the business in order to purchase the inventory owned by a small manufacturer. The manufacturer that you bought out had $800 in Raw Materials Inventory, $1,200 in Work in Process and $500 in Finished Goods Inventory. The remainder of the cash that was not spent was put into the company's cash account.

Reference no: EM132710124

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