Journal entry with an error highlighted in orange below. Table is all correct !
Heartland Construction | |||||
Journal entries | |||||
No. | Date | Account | Debit | Credit | Calculation |
1 | 1-Feb | Cash | $ 600,000 | ||
Capital Stock | $ 600,000 | ||||
2 | 10-Feb | Land | $ 105,000 | ||
Office Building | $ 210,000 | ||||
Cash | $ 63,000 | ||||
Notes Payable | $ 252,000 | ||||
3 | 16-Feb | Computer Systems | $ 13,200 | ||
Cash | $ 13,200 | ||||
4 | 18-Feb | Office Furnishings | $ 9,250 | ||
Cash | $ 925 | ||||
Accounts Payable | $ 8,325 | ||||
5 | 22-Feb | Office Supplies | $ 425 | ||
Cash | $ 425 | ||||
6 | 23-Feb | Accounts Receivable | $ 45 | =395-350 | |
Computer Systems | $ 45 | ||||
7 | 27-Feb | Accounts Payable | $ 4,163 | 8325/2 | |
Cash | $ 4,163 | ||||
8 | 28-Feb | Cash | $ 45 | ||
Accounts Receivable | $ 45 |
What am I missing here...? Glenn Grimes is the founder and president of Heartland Construction, a...
Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $500,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company purchased office facilities for $270,000, of which $90,000 was applicable to the land and $180,000 to the building. A cash payment of $54,000 was made and...
Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Grimes and several others invested $600,000 cash in the business in exchange for 30,000 shares of capital stock (each share of stock is valued at $20) Feb. 1 The company purchased office facilities for $360,000, of which $120,000 was applicable to the land and $240,000 to the building. A cash...
Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $600,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company purchased office facilities for $292,500, of which $97,500 was applicable to the land and $195,000 to the building. A cash payment of $58,500 was made and...
ework Saved Help Sav Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $500,000 cash in the business in exchange for 30,000 shares of capital stock. Feb.10 The company purchased office facilities for $292,500, of which $97,500 was applicable to the land and $195,000 to the building. A cash payment of $58,500...
Chapter 3. Problem 1PSA Bookmark Show all steps: ON Problem Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows Feb. 1 Grimes and several others invested $600,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company purchased office facilities for $360,000, of which $120,000 was appli cable to the land and $240,000...
Glenn Grimes is the founder and president of Heartland Construction, a real estate development venture. The business transactions during February while the company was being organized are listed as follows. Feb. 1 Grimes and several others invested $500,000 cash in the business in exchange for 30,000 shares of capital stock. Feb. 10 The company purchased office facilities for $330,000, of which $110,000 was applicable to the land and $220,000 to the building. A cash payment of $66,000 was made and...
h. Using the Financial Statements of Home Depot. c. Did the company post more you tell? Inc. connect Problem Set A was being organized LO3-3, L03-4, LO3-5 PROBLEM 3.1A Journalizing Transactions Glenn Grimes is the founder and president of Heartland Construction, a real estate venture. The business transactions during February while the company was bein listed as follows. sh in the business in exchange for nich $120,000 was appli- mayment of $72.000 was made Feb. 1 Grimes and several others...
part A Duy TURPlactice Sea Chapter 3, Problem 12E Bookmark Show all steps: Problem Elaine Consulting incorporated on February 1, current year. The company engaged in the following transactions during its first month of operations. Feb. 1 Issued capital stock in exchange for $800,000 cash. Feb. 5 Borrowed $100,000 from the bank by issuing a note payable. Feb. 8 Purchased land, building, and office equipment for $750,000. The value of the land was $150,000, the value of the building was...
February 1, 2019. The company engaged in the De Villa Consulting started its operations on following transactions during its first month of operations: Adrian de Villa invested $500,000 cash into the business. Feb. 1 Feb. 8 Purchased land, building, and equipment for $230,000. $50,000, the value of the building was $150,000, and the value of the was $30,000. The company paid $100,000 cash and the balance. The value of the land was equipment the issued a note payable for Purchased...
I need help finding out what I am missing in the income statement Accounts Receivable Allowance for Doubtful Accounts Inventory (45 units) $20,570 Unearned Revenue (40 units) $ 11,600 Accounts Payable (Jan Rent) $ (1,550) Notes Payable $ 4,050 Contributed Capital $5,000 $2,600 $16,500 $6,300 4,270 Retained Earnings-Feb 1, 2012 . WWC establishes a policy that it will sell inventory at $150 per unit. . In January, WWC received a $5,000 advance for 40 units, as reflected in Unearned Revenue...