When assets are purchased on credit, following entry will be passed
Date | Particulars | Amount Dr | Amount Cr |
Apr. 4 | Truck A/c | 64,020 | |
Cash | 4,800 | ||
Creditors for Fixed Assets | 59,220 | ||
( Being asset purchased with partial payment ) |
Prepare a journal entry for the purchase of a truck on April 4 for $64,020, paying...
Prepare a journal entry for the purchase of a truck on April 4 for $63,330, paying $4,300 cash and the remainder on account. If an amount box does not require an entry, leave it blank. April 4 Accounts Payable Accounts Receivable Equipment Equipment Expense Retained earnings
Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on November 2 for $4,100, paying $405 cash and the remainder on account. If an amount box does not require an entry, leave it blank. Nov, 2
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate, Inc. on account, $510. Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $2,020. Apr. 16. Purchased office supplies from Officemate, Inc. on account, $140. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $210. Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc. a. Prepare a purchases...
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate, Inc. on account, $640. Apr. 9. Purchased office equipment, Inc. on account from Tek Village Inc., $2,530. Apr. 16. Purchased office supplies from Officemate, Inc. on account, $170. Apr. 19. Purchased office supplies from Paper-to-Go Inc. on account, $260. Apr. 27. Paid invoice on April 4 purchase from Officemate, Inc. a. Prepare a purchases...
Will upvote!
a. Received $18,000 from sale of common stock. If an amount box does not require an entry, leave it blank. b. Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. If an amount box does not require an entry, leave it blank. Paid $2,300 for rent for April. If an amount box does not require an entry, leave it blank. d. Purchased $1,500 of supplies on account. If an amount box...
Journal Entry for Dividends Prepare a journal entry on June 30 for the payment of dividends of $12,000. If an amount box does not require an entry, leave it blank. June 30
Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued a check to establish a petty cash fund of $450. b. The amount of cash in the petty cash fund is $140. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $182 and miscellaneous selling expense, $115. Record any missing funds in...
Brief Exercise 7-35 (Algorithmic) Disposal of an Operating Asset Jolie Company owns equipment with a cost of $110,000 and accumulated depreciation of $28,600. Required: Prepare the journal entry to record the disposal of the equipment on April 9 assuming: 1. Jolie sold the equipment for $83,800 cash. If an amount box does not require an entry, leave it blank. Apr. 9 2. Jolie sold the equipment for $75,700 cash. If an amount box does not require an entry, leave it...
On January 1, Power House Co. prepaid the annual rent of $18,200. Prepare the journal entry to record this transaction. If an amount box does not require an entry, leave it blank. Jan. 1 Accounts Payable Cash Prepaid Rent Rent Expense Rent Revenue
On January 1, Power House Co. prepaid the annual rent of $20,200. Prepare the journal entry to record this transaction. If an amount box does not require an entry, leave it blank. Jan. 1 Accounts Payable Cash Prepaid Rent Rent Expense Rent Revenue