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Cornerstone Exercise 2-24 (Algorithmic) Journalize Transactions Four transactions that occurred during June are listed below. a....
eBook Calculator Four transactions that occurred during June are listed below. a. June 1: Issued common...
eBook Calculator Four transactions that occurred during June are listed below. a. June 1: Issued common stock to several investors for $73,700. b. June 8: Purchased equipment for $13,800 cash. c. June 15: Made cash sales of $21,400 to customers. d. June 29: Paid a $6,500 dividend to stockholders. Required: Prepare journal entries for the transactions June 1 (Record issuance of common stock) (Record purchase of equipment) (Record cash sale) (Declared and paid cash dividends) < Previous Next > Check...
Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during May are listed below. a....
Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during May are listed below. a. May 5: Borrowed cash of $17,800 from Middle State Bank. b. May 10: Made cash sales of $14,500 to customers. C. May 19: Paid salaries of $8,600 to employees for services performed. d. May 22: Purchased and used $4,600 of supplies in operations of the business. Required: Prepare journal entries for the transactions. May 5 (Record borrowing of cash from bank) (Record cash sale)...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash. PII-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below; LO7, 8 MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings $160,000...
Brief Exercise 2-32 (Algorithmic) Journalize Transactions Galle Inc. entered into the following transactions during January. a....
Brief Exercise 2-32 (Algorithmic) Journalize Transactions Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $57,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. C. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $41,800. e. January 25: Collected $3,000 from customers for services performed in Transaction d. f. January 30: Paid salaries of $7,500 for...
Cornerstone Exercise 2-21 (Algorithmic) Transaction Analysis Morgan Inc. entered into the following transactions: a. Issued common...
Cornerstone Exercise 2-21 (Algorithmic) Transaction Analysis Morgan Inc. entered into the following transactions: a. Issued common stock to investors in exchange for $40,000 cash. b. Borrowed $15,300 cash from First State Bank. c. Purchased $8,000 of supplies on credit. d. Paid for the purchase in Transaction c. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers. Stockholders'...
Journalize the transactions and the closing entirs for ner income and dividends. SOURCES Problem 11-04 -...
Journalize the transactions and the closing entirs for ner income
and dividends.
SOURCES Problem 11-04 - (Video) (Part Level Submission) On January 1, 2020, Whispering Winds Corp. had the following stockholders' equity accounts Common Stock (520 par value, 63,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,270,000 197,000 564,000 During the year, the following transactions occurred. by Study s h are Feb. 1 Mar 1 Apr. July 1 31 Dec 31 Declared a $2...
The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates a retail shoe store. Issued 80,000 shares of common stock in exchange for $400,000 cash. Purchased office equipment at a cost of $72,500. $29,000 was paid in cash and a note payable was signed for the balance owed. Purchased inventory on account at a cost of $160,000. The company uses the perpetual inventory system. Credit sales for the month totaled $272,000....
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan. 5. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. Mar. 10. Purchased 41,400 shares of the corporation’s own common stock at $28, recording the stock at cost. Apr. 30. Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock...
Cornerstone Exercise 2-22 (Algorithmic) Transaction Analysis The Mendholm Company entered into the following transactions: a. Performed...
Cornerstone Exercise 2-22 (Algorithmic) Transaction Analysis The Mendholm Company entered into the following transactions: a. Performed services on account, $13,800. b. Collected $7,300 from client related to services performed in Item a. C. Paid $1,500 dividend to stockholders. d. Pald salaries of $3,500 for the current month. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers. If...
On January 1, 2017 PT Megaworld had 50,000 shares, $4 par value per share, during the...
On January 1, 2017 PT Megaworld had 50,000 shares, $4 par value per share, during the year, the following transactions occurred. Apr Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of S1,50 per share to stockholders of record on June 30 July 10 Paid the $1.50 cash dividend. December Issued 4,000 additional shares of common stock for $12 per share, December 15 Declared a cash dividend on outstanding shares of $1.60...
eBook Calculator Four transactions that occurred during June are listed below. a. June 1: Issued common stock to several investors for $73,700. b. June 8: Purchased equipment for $13,800 cash. c. June 15: Made cash sales of $21,400 to customers. d. June 29: Paid a $6,500 dividend to stockholders. Required: Prepare journal entries for the transactions June 1 (Record issuance of common stock) (Record purchase of equipment) (Record cash sale) (Declared and paid cash dividends) < Previous Next > Check...
Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during May are listed below. a. May 5: Borrowed cash of $17,800 from Middle State Bank. b. May 10: Made cash sales of $14,500 to customers. C. May 19: Paid salaries of $8,600 to employees for services performed. d. May 22: Purchased and used $4,600 of supplies in operations of the business. Required: Prepare journal entries for the transactions. May 5 (Record borrowing of cash from bank) (Record cash sale)...
Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash. PII-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below; LO7, 8 MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value Retained earnings $160,000...
Brief Exercise 2-32 (Algorithmic) Journalize Transactions Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $57,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. C. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $41,800. e. January 25: Collected $3,000 from customers for services performed in Transaction d. f. January 30: Paid salaries of $7,500 for...
Cornerstone Exercise 2-21 (Algorithmic) Transaction Analysis Morgan Inc. entered into the following transactions: a. Issued common stock to investors in exchange for $40,000 cash. b. Borrowed $15,300 cash from First State Bank. c. Purchased $8,000 of supplies on credit. d. Paid for the purchase in Transaction c. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers. Stockholders'...
Journalize the transactions and the closing entirs for ner income
and dividends.
SOURCES Problem 11-04 - (Video) (Part Level Submission) On January 1, 2020, Whispering Winds Corp. had the following stockholders' equity accounts Common Stock (520 par value, 63,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,270,000 197,000 564,000 During the year, the following transactions occurred. by Study s h are Feb. 1 Mar 1 Apr. July 1 31 Dec 31 Declared a $2...
Cornerstone Exercise 2-22 (Algorithmic) Transaction Analysis The Mendholm Company entered into the following transactions: a. Performed services on account, $13,800. b. Collected $7,300 from client related to services performed in Item a. C. Paid $1,500 dividend to stockholders. d. Pald salaries of $3,500 for the current month. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers. If...
On January 1, 2017 PT Megaworld had 50,000 shares, $4 par value per share, during the year, the following transactions occurred. Apr Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of S1,50 per share to stockholders of record on June 30 July 10 Paid the $1.50 cash dividend. December Issued 4,000 additional shares of common stock for $12 per share, December 15 Declared a cash dividend on outstanding shares of $1.60...
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