Journal
Date | Account title | Debit | Credit |
Cash | 60,000 | ||
Common stock | 25,000 | ||
In excess of par | 35,000 |
Amount credited to common stock = Number of shares issued x Par value per share
= 2,500 x 10
= $25,000
Amount credited to In excess of par = Cash received from issue of shares - (Number of shares issued x Par value per share)
= 60,000 - (2,500 x 10)
= 60,000 - 25,000
= $35,000
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QUESTION 18 CHART OF ACCOUNTS 101 Cash 211 Notes Payable 401 Service Revenue 212 Accounts Payable...
QUESTION 20 CHART OF ACCOUNTS 401 Service Revenue 101 Cash 211 Notes Payable 212 Accounts Payable 491 Interest Revenue 111 Notes Receivable 214 Interest Payable 501 Cost of Goods Sold 112 Accounts Receivable 216 Wages Payable 511 Depreciation Expense 114 Interest Receivable 261 Unearned Revenue 513 Insurance Expense 119 Allow for Doubt Accounts 121 Inventory 281 Bonds Payable 515 Rent Expense 125 Supplies 311 Common Stock 517 Wages Expense 312 In Excess of Par 130 Prepaid Insurance 519 Supplies Expense...
QUESTION 3 CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 491 Interest Revenue 111 Notes Receivable 112 Accounts Receivable 214 Interest Payable 501 Cost of Goods Sold 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 119 Allow for Doubt Accounts 261 Unearned Revenue 513 Insurance Expense 121 Inventory 281 Bonds Payable 515 Rent Expense 125 Supplies 311 Common Stock 517 Wages Expense 130 Prepaid Insurance 312 In Excess of Par 519 Supplies Expense...
QUESTION 7 CHART OF ACCOUNTS 401 Service Revenue 101 Cash 211 Notes Payable 212 Accounts Payable 491 Interest Revenue 111 Notes Receivable 112 Accounts Receivable 214 Interest Payable 501 Cost of Goods Sold 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 119 Allow for Doubt Accounts 261 Unearned Revenue 513 Insurance Expense 121 Inventory 281 Bonds Payable 515 Rent Expense 125 Supplies 311 Common Stock 517 Wages Expense 130 Prepaid Insurance 312 In Excess of Par 519 Supplies Expense...
QUESTIONS CHART OF ACCOUNTS 101 Cash 211 Notes Payable 401 Service Revenue 111 Notes Receivable 212 Accounts Payable 491 Interest Revenue 112 Accounts Receivable 214 Interest Payable 501 Cost of Goods Sold 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 119 Allow for Doubt Accounts 261 Unearned Revenue 513 Insurance Expense 121 Inventory 281 Bonds Payable 515 Rent Expense 125 Supplies 311 Common Stock 517 Wages Expense 312 In Excess of Par 130 Prepaid Insurance 519 Supplies Expense 132...
QUESTION 14 CHART OF ACCOUNTS 101 Cash 211 Notes Payable 111 Notes Receivable 212 Accounts Payable 112 Accounts Receivable 214 Interest Payable 114 Interest Receivable 216 Wages Payable 119 Allow for Doubt Accounts 261 Unearned Revenue 121 Inventory 281 Bonds Payable 125 Supplies 311 Common Stock 130 Prepaid Insurance 312 In Excess of Par 132 Prepaid Rent 320 Retained Earnings 161 Equipment 332 Dividends 162 Accumulated Depreciation 350 Income Summary Billed customers for services rendered 401 Service Revenue 491 Interest...
QUESTION 15 101 Cash 111 Notes Receivable 112 Accounts Receivable 114 Interest Receivable 119 Allow for Doubt Accounts 121 Inventory 125 Supplies 130 Prepaid Insurance 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation CHART OF ACCOUNTS 211 Notes Payable 212 Accounts Payable 214 Interest Payable 216 Wages Payable 261 Unearned Revenue 281 Bonds Payable 311 Common Stock 312 In Excess of Par 320 Retained Earnings 332 Dividends 350 Income Summary 401 Service Revenue 491 Interest Revenue 501 Cost of Goods...
QUESTION 19 101 Cash 111 Notes Receivable 112 Accounts Receivable 114 Interest Receivable 119 Allow for Doubt Accounts 121 Inventory 125 Supplies 130 Prepaid Insurance 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation CHART OF ACCOUNTS 211 Notes Payable 212 Accounts Payable 214 Interest Payable 216 Wages Payable 261 Unearned Revenue 281 Bonds Payable 311 Common Stock 312 In Excess of Par 320 Retained Earnings 332 Dividends 350 Income Summary 401 Service Revenue 491 Interest Revenue 501 Cost of Goods...
QUESTION 16 101 Cash 111 Notes Receivable 112 Accounts Receivable 114 Interest Receivable 119 Allow for Doubt Accounts 121 Inventory 125 Supplies 130 Prepaid Insurance 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation CHART OF ACCOUNTS 211 Notes Payable 212 Accounts Payable 214 Interest Payable 216 Wages Payable 261 Unearned Revenue 281 Bonds Payable 311 Common Stock 312 In Excess of Par 320 Retained Earnings 332 Dividends 350 Income Summary 401 Service Revenue 491 Interest Revenue 501 Cost of Goods...
QUESTION 2 101 Cash 111 Notes Receivable 112 Accounts Receivable 114 Interest Receivable 119 Allow for Doubt Accounts 121 Inventory 125 Supplies 130 Prepaid Insurance 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation CHART OF ACCOUNTS 211 Notes Payable 212 Accounts Payable 214 Interest Payable 216 Wages Payable 261 Unearned Revenue 281 Bonds Payable 311 Common Stock 312 In Excess of Par 320 Retained Earnings 332 Dividends 350 Income Summary 401 Service Revenue 491 Interest Revenue 501 Cost of Goods...
QUESTION 4 101 Cash 111 Notes Receivable 112 Accounts Receivable 114 Interest Receivable 119 Allow for Doubt Accounts 121 Inventory 125 Supplies 130 Prepaid Insurance 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation CHART OF ACCOUNTS 211 Notes Payable 212 Accounts Payable 214 Interest Payable 216 Wages Payable 261 Unearned Revenue 281 Bonds Payable 311 Common Stock 312 In Excess of Par 320 Retained Earnings 332 Dividends 350 Income Summary 401 Service Revenue 491 Interest Revenue 501 Cost of Goods...