Journal Entry Worksheet Financial Accounting Problem The following events occurred for Mitka Ltd.: a. Received investment...
The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,090 shares of $1 par value common stock with a market price of $25 per share. Purchased $7,800 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. Borrowed $15,000 cash from a bank. Loaned $1,100 to an employee who signed a note. Purchased $20,000 of land; paid $4,000 in cash and signed a note for the...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to themm b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Bought and received $800 of equipment on account. d. Purchased land for $12,000; paid $1,000 in cash and signed a long-term note for $11,000 e. Purchased $3,000 of equipment; paid $1,000 in cash and charged the rest on account. Required For each of the events in...
E2-6 Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,060 shares of $1 par value common stock with a market price of $10 per share. Purchased $8,000 of equipment, paying $1,000 in cash and owing the rest on accounts payable to the manufacturer. Borrowed $13,000 cash from a bank. Loaned $600 to an employee who signed a note. Purchased $17,000 of land; paid $9,000 in...
Help Save & Exit Submit Check my work The following events occurred for Favata Company: a. Received $13,500 cash from owners and issued stock to them. b. Borrowed $10,500 cash from a bank and signed a note due later this year. c. Bought and received $1,150 of equipment on account d. Purchased land for $19,000; paid $1,700 in cash and signed a long-term note for $17,300. e. Purchased $6,500 of equipment: paid $1,700 In cash and charged the rest on...
The following events occurred for Johnson Company: a. Received investment of cash by organizers and distributed to them 1,010 shares of $1 par value common stock with a market price of $5 per share. b. Purchased $8,200 of equipment, paying $1,400 in cash and owing the rest on accounts payable to the manufacturer. c. Borrowed $5,000 cash from a bank. d. Loaned $600 to an employee who signed a note. e. Purchased $23,159 of land; paid $4,000 in cash and...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock to them. b. Borrowed $14,500 cash from a bank and signed a note due later this year. c. Bought and received $1,550 of equipment on account. d. Purchased land for $27000; paid $2.500 in cash and signed a long-term note for $24.500. e. Purchased $10,500 of equipment; paid $2.500 in cash and charged the rest on account Required: For each of the events in...
Jameson Corporation was organized on May 1. The following events occurred during the first month. Received $71,000 cash from the five investors who organized Jameson Corporation. Each investor received 109 shares of $10 par value common stock. Ordered store fixtures costing $14,000. Borrowed $11,000 cash and signed a note due in two years. Purchased $15,000 of equipment, paying $1,400 in cash and signing a six-month note for the balance. Lent $2,000 to an employee who signed a note to repay...
E2-6 Recording Investing and Financing Activities [LO 2-3] The following events occurred for Favata Company: a. Received $18,000 cash from owners and issued stock to them. b. Borrowed $15,000 cash from a bank and signed a note due later this year. c. Bought and received $1,600 of equipment on account. d. Purchased land for $28,000; paid $2,600 in cash and signed a long-term note for $25,400. e. Purchased $11,000 of equipment, paid $2,600 in cash and charged the rest on...
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $70,000 cash from the five investors who organized Jameson Corporation. Each investor received 106 shares of $10 par value common stock. b. Ordered store fixtures costing $18,000. c. Borrowed $12,000 cash and signed a note due in two years. d. Purchased $19,000 of equipment, paying $1,800 in cash and signing a six-month note for the balance. e. Lent $1,300 to an employee who...
The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Purchased land for $12,000; paid $1,000 in cash and signed a note for $11,000. d. Bought and received $800 of equipment on account. e. Purchased $3,000 of equipment, paying $1,000 in cash and charged the rest on account. Required: For each of the events in above,...