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a. Received $60,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and...
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 $68.000 cash from the five investors who organized Jameson Corporation. Each investor received 105...
a. Received $68.000 cash from the five investors who organized Jameson Corporation. Each investor received 105 shares of $10 par value common stock. b. Ordered store fixtures costing $17.000. c. Borrowed $17.000 cash and signed a note due in two years. d. Purchased $20.000 of equipment, paying $1,000 in cash and signing a six-month note for the balance. e. Lent $1.500 to an employee who signed a note to repay the loan in three months. f. Received and paid for...
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...
Jameson Corporation was organized on May 1. The following events occurred during the first month. a....
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash from the five investors who organized Jameson Corporation. Each investor received 104 shares of $10 par value common stock. b. Ordered store fixtures costing $15,000. c. Borrowed $16,000 cash and signed a note due in two years. d. Purchased $23,000 of equipment, paying $1,800 in cash and signing a six-month note for the balance. e. Lent $1,300 to an employee who...
E2-11 Recording Journal Entries and Preparing a Classified Balance Sheet (LO 2-1, LO 2-2, LO 2-5)...
E2-11 Recording Journal Entries and Preparing a Classified Balance Sheet (LO 2-1, LO 2-2, LO 2-5) 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 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...
The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares...
The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Purchased land for $12,000; paid $1,000 in cash and signed a note for $11,000. d. Bought and received $800 of equipment on account. e. Purchased $3,000 of equipment, paying $1,000 in cash and charged the rest on account. Required: For each of the events in above,...
Jameson Corporation was organized on May 1. The following events occurred during the first month. a....
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash from the five investors who organized Jameson Corporation. Each investor received 104 shares of $10 par value common stock. b. Ordered store fixtures costing $15,000. c. Borrowed $16,000 cash and signed a note due in two years. d. Purchased $23,000 of equipment, paying $1,800 in cash and signing a six-month note for the balance. e. Lent $1,300 to an employee who...
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....
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...
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...
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 $68.000 cash from the five investors who organized Jameson Corporation. Each investor received 105 shares of $10 par value common stock. b. Ordered store fixtures costing $17.000. c. Borrowed $17.000 cash and signed a note due in two years. d. Purchased $20.000 of equipment, paying $1,000 in cash and signing a six-month note for the balance. e. Lent $1.500 to an employee who signed a note to repay the loan in three months. f. Received and paid for...
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...
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash from the five investors who organized Jameson Corporation. Each investor received 104 shares of $10 par value common stock. b. Ordered store fixtures costing $15,000. c. Borrowed $16,000 cash and signed a note due in two years. d. Purchased $23,000 of equipment, paying $1,800 in cash and signing a six-month note for the balance. e. Lent $1,300 to an employee who...
E2-11 Recording Journal Entries and Preparing a Classified Balance Sheet (LO 2-1, LO 2-2, LO 2-5) 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 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...
The following events occurred at Favanta Company: a. Received $10,000 cash from owners and issued shares to them. b. Borrowed $7,000 cash from a bank and signed a note due later this year. c. Purchased land for $12,000; paid $1,000 in cash and signed a note for $11,000. d. Bought and received $800 of equipment on account. e. Purchased $3,000 of equipment, paying $1,000 in cash and charged the rest on account. Required: For each of the events in above,...
Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $67,000 cash from the five investors who organized Jameson Corporation. Each investor received 104 shares of $10 par value common stock. b. Ordered store fixtures costing $15,000. c. Borrowed $16,000 cash and signed a note due in two years. d. Purchased $23,000 of equipment, paying $1,800 in cash and signing a six-month note for the balance. e. Lent $1,300 to an employee who...
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....
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...
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...
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