Homework Answers
Journal entries
| No | General Journal | Debit | Credit |
| a | Cash | 50000 | |
| Common Stock | 50000 | ||
| b | Office supplies | 800 | |
| Account payable | 800 | ||
| c | Equipment | 14000 | |
| Cash | 5000 | ||
| Notes payable | 9000 | ||
| d | Account payable | 400 | |
| Cash | 400 | ||
| e | Land | 20000 | |
| Notes payable | 20000 | ||
| f | Cash | 10000 | |
| Land | 10000 | ||
| g | Notes payable | 10000 | |
| Cash | 10000 | ||
Note: Pls post each que individually as per Chegg guidelines
Add Answer to:
O'Brien Construction had the following business activities: 1. Stockholders invest $50,000 cash in the corporation. 2....
all part of the same question O'Brien Construction had the following business activities: 1. Stockholders invest...
all part of the same question
O'Brien Construction had the following business activities: 1. Stockholders invest $30,000 cash in the corporation - 2. O'Brien purchased $500 of office supplies on credit 3. O'Brien purchased office equipment for $8,000, paying $1,500 in cash and signing a 30-day note payable for the remainder. 4. O'Brien paid $250 cash on account for office supplies purchased in transaction 2 5. O'Brien purchased two acres of land for $6,000, signing a 2 year note payable....
amt: Part 1 (Problems) Saved 2 O'Brien Construction had the following business activities: 1. Stockholders invest...
amt: Part 1 (Problems) Saved 2 O'Brien Construction had the following business activities: 1. Stockholders invest $31,000 cash in the corporation. 2. O'Brien purchased $620 of office supplies on credit. 3. O'Brien purchased office equipment for $12,000, paying $7.800 in cash and signing a 30-day note payable for the remai 4. O'Brien paid $310 cash on account for office supplies purchased in transaction 2 5. O'Brien purchased two acres of land for $32,000, signing a 2 year note payable. 6....
O’Brien Construction had the following business activities: Stockholders invest $62,000 cash in the corporation. O'Brien purchased...
O’Brien Construction had the following business activities: Stockholders invest $62,000 cash in the corporation. O'Brien purchased $470 of office supplies on credit. O'Brien purchased office equipment for $7,000, paying $4,100 in cash and signing a 30-day note payable for the remainder. O'Brien paid $235 cash on account for office supplies purchased in transaction 2. O'Brien purchased two acres of land for $21,000, signing a 2-year note payable. O'Brien sold one acre of land at one-half of the total cost of...
E2-7 Recording Journal Entries (LO 2-3, LO 2-5) NIKE, Inc., with headquarters in Beaverton, Oregon, is...
E2-7 Recording Journal Entries (LO 2-3, LO 2-5) NIKE, Inc., with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000. a. Purchased $216 in equipment; paid by signing a $5 long-term note and fulfilling the rest...
Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and...
Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. a. Blue Light Arcade received $54 cash on account for a birthday party held two months ago. b. Agreed to hire a new employee at a monthly salary of $3,100. The employee starts work next month. c. Paid $2,100 for a table top hockey game purchased last month on account. d. Repaid a $5,100 bank loan that had been outstanding for six...
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...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb....
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
Check my work Required information Assume Down, Inc., was organized on May 1 to compete with...
Check my work Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.-a company that sells de-motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. Part 2 of 3 points a. Received $48,000 cash from the investors who organized Down, Inc. b. Borrowed $15,000 cash and signed a note due in two years. c. Ordered equipment costing $16,000. d. Purchased $6,000 in equipment, paying $4,000 in cash...
a. Received $60,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and...
a. Received $60,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered equipment costing $16,000. d. Purchased $9,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c), paid for half of it, and put the rest on account. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
all part of the same question
O'Brien Construction had the following business activities: 1. Stockholders invest $30,000 cash in the corporation - 2. O'Brien purchased $500 of office supplies on credit 3. O'Brien purchased office equipment for $8,000, paying $1,500 in cash and signing a 30-day note payable for the remainder. 4. O'Brien paid $250 cash on account for office supplies purchased in transaction 2 5. O'Brien purchased two acres of land for $6,000, signing a 2 year note payable....
amt: Part 1 (Problems) Saved 2 O'Brien Construction had the following business activities: 1. Stockholders invest $31,000 cash in the corporation. 2. O'Brien purchased $620 of office supplies on credit. 3. O'Brien purchased office equipment for $12,000, paying $7.800 in cash and signing a 30-day note payable for the remai 4. O'Brien paid $310 cash on account for office supplies purchased in transaction 2 5. O'Brien purchased two acres of land for $32,000, signing a 2 year note payable. 6....
E2-7 Recording Journal Entries (LO 2-3, LO 2-5) NIKE, Inc., with headquarters in Beaverton, Oregon, is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000. a. Purchased $216 in equipment; paid by signing a $5 long-term note and fulfilling the rest...
Katy Williams is the manager of Blue Light Arcade. The company provides entertainment for parties and special events. a. Blue Light Arcade received $54 cash on account for a birthday party held two months ago. b. Agreed to hire a new employee at a monthly salary of $3,100. The employee starts work next month. c. Paid $2,100 for a table top hockey game purchased last month on account. d. Repaid a $5,100 bank loan that had been outstanding for six...
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...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
Check my work Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.-a company that sells de-motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. Part 2 of 3 points a. Received $48,000 cash from the investors who organized Down, Inc. b. Borrowed $15,000 cash and signed a note due in two years. c. Ordered equipment costing $16,000. d. Purchased $6,000 in equipment, paying $4,000 in cash...
a. Received $60,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered equipment costing $16,000. d. Purchased $9,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c), paid for half of it, and put the rest on account. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
Most questions answered within 3 hours.
-
Katelynn, a physician, earns $200,000 from her medical practice
in the current year. She receives $45,000...
asked 4 minutes ago -
Each row of the table below describes an aqueous solution at
25°C
.
The second column...
asked 8 minutes ago -
A horizontal wire is at y = 0. Current travels in the +x
direction. The magnetic...
asked 9 minutes ago -
Let X be a continuous random variable whose PDF is Let X be a
continuous random...
asked 30 minutes ago -
Martinez Company’s relevant range of production is 7,500 units
to 12,500 units. When it produces and...
asked 28 minutes ago -
A football with a mass of 1.2 kg is kicked from ground level to
a height...
asked 33 minutes ago -
Remember: Changes in supply determinants shift supply, and
changes in demand determinants shift demand. We say...
asked 32 minutes ago -
Why is the answer b), for this question? I came up with C) for
my incorrect...
asked 38 minutes ago -
Suppose that you know that in the population of full-time
employees in the United States, the...
asked 1 hour ago -
This experiment was designed originally to sample various meat and carcass quality
aspects of Ontario pigs...
asked 1 hour ago -
Dopamine Hydrochloride: draw the structure And Show the
functional groups in different colors and label the...
asked 53 minutes ago -
A rope supports a 10 kg dumbbell hanging from it. What is the
tension in the...
asked 52 minutes ago