Prepare the necessary Journal Entry to record these transactions
Please keep track of your work.
Prepare the necessary Journal Entry to record these transactions. If an entry is not required for any of these transactions, state this and explain why.
Mr. Otto invested $159,000 in Otto Enterprise; Mr. Otto received Common Stock
Homework Answers
Journal entry in the books of Mr. Otto
Investment a/c DR $159,000
TO Cash a/c CR $159,000
(Being amount invested in otto enterprises)
Journal entry in the books of Otto enterprises
Cash a/c DR $159,000
To equity share capital a/c CR $159,000
(Being amount received from Mr. Otto )
Prepare the necessary Journal Entry to record these transactions
Prepare the necessary Journal Entry to record these transactions. If an entry is not required for any of these transactions, state this and explain why. Otto Enterprise received January invoices for: Telephone Expense - $290, Consulting Expense - $4,800, Legal Expense - $2,800 and Utilities Expense - $630; these were all paid by check.
A car was purchased for Otto Enterprise, in the amount 18,000
Please keep track of your work. Prepare the necessary Journal Entry to record these transactions. If an entry is not required for any of these transactions, state this and explain why. A car was purchased for Otto Enterprise, in the amount 18,000; 20% was paid in cash and a promissory note was signed for the remaining balance.
A cash dividend was paid in the amount of $3,800.
Please keep track of your work. Prepare the necessary Journal Entry to record these transactions. If an entry is not required for any of these transactions, state this and explain why. A cash dividend was paid in the amount of $3,800.
then all the same entry transactions but for the Govt. Wide Fin. Stmt. Chei Prepare journal...
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
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Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $105,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). c. An $15 million bond was issued to build a new road. d. Cash of $179,000 is transferred from...
2nd Journal entry: Record the adjusting entry for situation a. 3rd Journal entry: Record the entry...
2nd Journal entry: Record the adjusting entry for situation
a.
3rd Journal entry: Record the entry necessary as a direct result
of the change in situation b.
4th Journal entry: Record the adjusting entry for situation
b.
5th Journal entry: Record the entry necessary as a direct result
of the change in situation c.
Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2021 before any adjusting entries or closing entries are prepared. a....
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required...
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5-b. Prepare the necessary journal entry to record its disposition. (If no entry is required for...
5-b. Prepare the necessary journal entry to record its disposition. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record under- or over applied overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below.] Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs....
then all the same entry transactions but for the Govt.
Wide Fin. Stmt.
Chei Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $94,000. b. The city print shop did $1,200 worth of work for the school system (but has not yet been paid). C. An $11 million bond...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $165,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. View transaction list Journal entry worksheet Record the declaration of a cash dividend payable...
Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements. a. A new truck for the sanitation department was ordered at a cost of $105,250. b. The city print shop did $1,800 worth of work for the school system (but has not yet been paid). c. An $15 million bond was issued to build a new road. d. Cash of $179,000 is transferred from...
2nd Journal entry: Record the adjusting entry for situation
a.
3rd Journal entry: Record the entry necessary as a direct result
of the change in situation b.
4th Journal entry: Record the adjusting entry for situation
b.
5th Journal entry: Record the entry necessary as a direct result
of the change in situation c.
Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2021 before any adjusting entries or closing entries are prepared. a....
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $167,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. Journal entry worksheet < 1 2 3 Record the declaration of a cash dividend...
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