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The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares...
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...
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...
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...
E2-6 Recording Investing and Financing Activities [LO 2-3] The following events occurred for Favata Company: a....
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...
The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to...
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...
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...
Jameson Corporation was organized on May 1. The following events occurred during the first month. Received...
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...
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 $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...
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...
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...
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...
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...
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...
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...
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...
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 $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...
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