![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 account Required For each of the events in above, prepare journal entries. (lf no entry is required for a transaction/event, select No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Received $18,000 cash from owners and issued stock to them. Record the transaction Note: Enter debits before credits. Transaction General Journal Dobit Credit Record entry Clear entry View general journal](http://img.homeworklib.com/questions/84602090-7883-11ea-9064-59b90ca6e694.png?x-oss-process=image/resize,w_560)
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E2-6 Recording Investing and Financing Activities [LO 2-3] The following events occurred for Favata Company: a....
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock...
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...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock...
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...
Help Save & Exit Submit Check my work The following events occurred for Favata Company: a....
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 Favata Company: a. Received $13,000 cash from owners and issued stock...
The following events occurred for Favata Company: a. Received $13,000 cash from owners and issued stock to them. b. Borrowed $10,000 cash from a bank and signed a note due later this year C. Bought and received $1,100 of equipment on account d. Purchased land for $18,000: paid $1,600 in cash and signed a long-term note for $16,400 e Purchased $6,000 of equipment: paid $1,600 in cash and charged the rest on account Required: each of the events (a) through...
E2-6 Recording Investing and Financing Activities LO2-4 The following events occurred for Johnson Company: Received investment...
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...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. 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 (a) through...
The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares...
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,...
Check my work The following events occurred for Favata Company a. Received $11,000 cash from owners...
Check my work The following events occurred for Favata Company a. Received $11,000 cash from owners and issued stock to them b. Borrowed $8,000 cash from a bank and signed a note due later this year. c. Bought and received $900 of equipment on account. d. Purchased land for $14,000; paid $1.200 in cash and signed a long-term note for $12,800 e. Purchased $4,000 of equipment; paid $1,200 in cash and charged the rest on account. Required: For each of...
The following events occurred for Favata Company a. Received $12,000 cash from owners and issued stock...
The following events occurred for Favata Company a. Received $12,000 cash from owners and issued stock to them. b. Borrowed $9,000 cash from a bank and signed a note due later this year. C. Bought and received $1,000 of equipment on account. Purchased land for $16,000; paid $1,400 in cash and signed a long-term note for $14,600 Purchased $5,000 of equipment, paid $1,400 in cash and charged the rest on account Required: For each of the events (a) through (e),...
Journal Entry Worksheet Financial Accounting Problem The following events occurred for Mitka Ltd.: a. Received investment...
Journal Entry Worksheet
Financial Accounting Problem
The following events occurred for Mitka Ltd.: a. Received investment of $32,100 cash by organizers. b. Purchased land for $18,200in land; paid $6,100 in cash and signed a mortgage note with a local bank for the balance (due in five years). c. Borrowed cash from a bank and signed a note for $11,100. d. Lent $400 to an employee who signed a note due in three months. e. Paid the bank the amount borrowed...
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...
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...
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 Favata Company: a. Received $13,000 cash from owners and issued stock to them. b. Borrowed $10,000 cash from a bank and signed a note due later this year C. Bought and received $1,100 of equipment on account d. Purchased land for $18,000: paid $1,600 in cash and signed a long-term note for $16,400 e Purchased $6,000 of equipment: paid $1,600 in cash and charged the rest on account Required: each of the events (a) through...
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...
The following events occurred for Favata Company: a. Received $10,000 cash from owners and issued stock to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. 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 (a) through...
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,...
Check my work The following events occurred for Favata Company a. Received $11,000 cash from owners and issued stock to them b. Borrowed $8,000 cash from a bank and signed a note due later this year. c. Bought and received $900 of equipment on account. d. Purchased land for $14,000; paid $1.200 in cash and signed a long-term note for $12,800 e. Purchased $4,000 of equipment; paid $1,200 in cash and charged the rest on account. Required: For each of...
The following events occurred for Favata Company a. Received $12,000 cash from owners and issued stock to them. b. Borrowed $9,000 cash from a bank and signed a note due later this year. C. Bought and received $1,000 of equipment on account. Purchased land for $16,000; paid $1,400 in cash and signed a long-term note for $14,600 Purchased $5,000 of equipment, paid $1,400 in cash and charged the rest on account Required: For each of the events (a) through (e),...
Journal Entry Worksheet
Financial Accounting Problem
The following events occurred for Mitka Ltd.: a. Received investment of $32,100 cash by organizers. b. Purchased land for $18,200in land; paid $6,100 in cash and signed a mortgage note with a local bank for the balance (due in five years). c. Borrowed cash from a bank and signed a note for $11,100. d. Lent $400 to an employee who signed a note due in three months. e. Paid the bank the amount borrowed...
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