Homework Answers
CASH A/C
| Description | Dr Amount | Cr Amount | Balance |
| Common Stock | 6180 | 6180 | |
| Securities Premium | 82820 | 89000 | |
| Equipment | 9250 | 79750 | |
| Additional paid up capital | 4900 | 84650 | |
| Notes Recievable A/c | 4400 | 80250 | |
| Ending balance | 80250 |
NOTES RECIEVALE A/C
| Description | Dr Amount | Cr Amount | Balance |
| Cash | 4400 | 4400 | |
| Ending balance | 4400 |
EQUIPMENT A/C
| Description | Dr Amount | Cr Amount | Balance |
| Cash | 9250 | 9250 | |
| Notes Payable | 27750 | 37000 | |
| Ending balance | 37000 |
LAND A/C
| Description | Dr Amount | Cr Amount | Balance |
| Additional Paid up capital | 34000 | 34000 | |
| Ending balance | 34000 | ||
NOTES PAYABLE A/C
| Description | Dr Amount | Cr Amount | Balance |
| Equipment | 27750 | 27750 | |
| Ending balance | 27750 | ||
COMMON STOCK A/C
| Description | Dr Amount | Cr Amount | Balance |
| Cash | 6180 | 6180 | |
| Ending balance | 6180 | ||
ADDITIONAL PAID UP CAPITAL A/C
| Description | Dr Amount | Cr Amount | Balance |
| Land and building | 290 | 290 | |
| Ending balance | 290 | ||
Note :
No journal entry will be passed for entering into service
contract.
No journal entry will be passed for investor taking personal loan from bank.
In common sock and additional paid up capital A/c only face
value amount will come.Remaining amount will go in securites
premium amount.
Add Answer to:
Cash Notes Receivable 0 Beg. Bal. 0 Beg. Bal. (a) (b) (c) End. Bal. (b) (c)...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $70,000 cash from the six investors; each investor was issued 8,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $18,000; one-fourth was paid in cash and the company signed a note...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement...
Griffin Service Company INC 0 Required information (The following information applies to the questions displayed below.)...
Griffin Service Company INC
0 Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth was paid in cash and...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $87,000 cash from the six investors; each investor was issued 10,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $35,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $81,000 cash from the six investors; each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $29,000; one-fourth was paid in cash and the company signed a note...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note...
Saved Help Save & Exit "CYM CURRICULUI E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts...
Saved Help Save & Exit "CYM CURRICULUI E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO 2-4 [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year. a. Received $81,000 cash from the six investors, each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business...
hao123 3 60 The Ship Model Home 1.700 Modern RN. Naval Analyes Pa tel Required information...
hao123 3 60 The Ship Model Home 1.700 Modern RN. Naval Analyes Pa tel Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2.4 (The following information applies to the questions displayed below) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $79,000 cash from the six investors, each investor was issued 9,300 shares of common stock with a par value of $0.10 per share....
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc.,...
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $89,000 cash from the six investors, each investor was issued 10,300 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $37,000; one-fourth was paid in cash and the company signed a...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $70,000 cash from the six investors; each investor was issued 8,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $18,000; one-fourth was paid in cash and the company signed a note...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement...
Griffin Service Company INC
0 Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth was paid in cash and...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $87,000 cash from the six investors; each investor was issued 10,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $35,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $81,000 cash from the six investors; each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $29,000; one-fourth was paid in cash and the company signed a note...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note...
Saved Help Save & Exit "CYM CURRICULUI E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO 2-4 [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year. a. Received $81,000 cash from the six investors, each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business...
hao123 3 60 The Ship Model Home 1.700 Modern RN. Naval Analyes Pa tel Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2.4 (The following information applies to the questions displayed below) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $79,000 cash from the six investors, each investor was issued 9,300 shares of common stock with a par value of $0.10 per share....
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $89,000 cash from the six investors, each investor was issued 10,300 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $37,000; one-fourth was paid in cash and the company signed a...
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