Homework Answers
Journal entries :
|
Date |
Particulars |
Debit(€) |
Credit(€) |
|
a) |
Dividends |
1,408 |
|
|
Dividends Payable |
1,408 |
||
|
(Being to record the declaration of the dividend) |
|||
|
b) |
No journal entry required |
- |
- |
|
c) |
Dividends Payable |
757 |
|
|
Cash |
757 |
||
|
(Being to recorded the payment of previous dividend) |
|||
|
d) |
Cash |
5,135 |
|
|
Bank Loan |
5,135 |
||
|
(Being to recorded the bank loan taken) |
|||
|
e) |
Cash |
97 |
|
|
Equipment |
97 |
||
|
(Being to recorded the sale of the equipment) |
|||
|
f) |
Equipment |
2,505 |
|
|
Cash |
2,408 |
||
|
Notes Payable ($2,505 - $2,408) |
97 |
||
|
(Being to recorded the purchase of the equipment) |
|||
|
g) |
Investment |
2,210 |
|
|
Cash |
2,210 |
||
|
(Being to recorded the purchase of the investment) |
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The amounts are rounded to millions.
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