Flint Corporation has the following transactions during August of the current year.
Flint Corporation has the following transactions during August of the current year.
| Aug. 1 | Issues shares of common stock to investors in exchange for $10,270. | |
| 4 | Pays insurance in advance for 3 months, $1,400. | |
| 16 | Receives $960 from clients for services rendered. | |
| 27 | Pays the secretary $720 salary. |
Homework Answers
Date | Accounts Titles and Explanations | Debit | Credit |
Aug. 1 | Cash Common Stock | 10,270 | 10,270 |
Aug. 4 | Prepaid Insurance Cash | 1,400 | 1,400 |
Aug. 16 | Cash Service Revenue | 960 | 960 |
Aug. 27 | Salaries and Wages Expense Cash | 720 | 720 |
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Flint Corporation has the following transactions during August of the current year.
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Sheffield Corp. has the following transactions during August of
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Aug. 1 Issues shares of common stock to investors in exchange for
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Aug. 4 Pays insurance in advance for 3 months, $1,890.
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4
Pays insurance in advance for 3 months, $1,720.
16
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Journalize the transactions. (If no entry is required,
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In Accounting
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Aug. 1 Issues shares of common stock to investors in exchange for
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Aug. 4 Pays insurance in advance for 3 months, $1,890.
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Issues shares of common stock to investors in exchange for
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Pays insurance in advance for 3 months, $1,720.
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Receives $710 from clients for services rendered.
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