M2-9 Completing T-Accounts LO2-4 Following are the transactions of Dennen, Inc., for the month of January....
M2-9 Completing T-Accounts LO2-4
Following are the transactions of Dennen, Inc., for the month of
January.
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Borrowed $30,000 from a local bank.
-
Lent $10,000 to an affiliate; accepted a note due in one year.
-
Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash.
-
Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year.
-
Declared and paid $2,000 in dividends to stockholders.
For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts and determine ending account balances. Beginning balances are provided.
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M2-9 Completing T-Accounts LO2-4
Following are the transactions of Dennen, Inc., for the month of
January....
Following are the transactions of Dennen, Inc., for the month of January. Borrowed $25,000 from a...
Following are the transactions of Dennen, Inc., for the month of January. Borrowed $25,000 from a local bank. Lent $8,600 to an affiliate; accepted a note due in one year. Sold to investors 60 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. Purchased $20,500 of equipment, paying $4,400 cash and signing a note for the rest due in one year. Declared and paid $3,000 in dividends...
Following are the transactions of Dennen, Inc., for the month of January. Borrowed $26,500 from a...
Following are the transactions of Dennen, Inc., for the month of
January.
Borrowed $26,500 from a local bank.
Lent $10,000 to an affiliate; accepted a note due in one
year.
Sold to investors 100 additional shares of stock with a par
value of $0.10 per share and a market price of $20 per share;
received cash.
Purchased $31,000 of equipment, paying $5,600 cash and signing a
note for the rest due in one year.
Declared and paid $1,500 in dividends...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
Following the transaction of Dennen, Inc for the month of January Borrowed $30,000 from a local...
Following the transaction of Dennen, Inc for the month of January Borrowed $30,000 from a local bank, Lent 10,000 to affiliate due in 1 year, Sold to an investor 100 additional share with a .10 per share and a market price of $5 per share and received cash, Purchased $15,000 on equipment paying $5,000 cash and signing a note for the rest due in 1 year, Declared and paid $2,000 in dividends to stockholders. For each of the above transaction...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $26,500 from...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $26,500 from a local bank. b. Lent $8,500 to an affiliate; accepted a note due in one year. c. Sold to investors 80 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash. d. Purchased $21,500 of equipment, paying $4,700 cash and signing a note for the rest due in one year. e. Declared...
Following are the transactions of JonesSpa Corporation, for the month of January. Borrowed $26,500 from a...
Following are the transactions of JonesSpa Corporation, for the
month of January.
Borrowed $26,500 from a local bank.
Lent $11,000 to an affiliate; accepted a note due in one
year.
Sold to investors 110 additional shares of stock with a par
value of $0.10 per share and a market price of $10 per share;
received cash.
Purchased $34,000 of equipment, paying $5,700 cash and signing a
note for the rest due in one year.
Declared $1,800 in cash dividends to...
Question 13 Following the transaction of Dennen, Inc for the month of January Borrowed $30,000 from...
Question 13 Following the transaction of Dennen, Inc for the month of January Borrowed $30,000 from a local bank, Lent 10,000 to affiliate due in 1 year, Sold to an investor 100 additional share with a .10 per share and a market price of $5 per share and received cash, Purchased $15,000 on equipment paying $5,000 cash and signing a note for the rest due in 1 year, Declared and paid $2,000 in dividends to stockholders. Prepare the journal entry...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: Received $87,000 cash from the six investors; each investor was issued 10,100 shares of common stock with a par value of $0.10 per share. Purchased equipment for use in the business at a cost of $35,000; one-fourth was paid...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $25,000 from...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $25,000 from a local bank. b. Lent $8,400 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $25 per share; received cash. d. Purchased $24,000 of equipment, paying $4,700 cash and signing a note for the rest due in one year. e. Declared...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $24,000 from...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $24,000 from a local bank. b. Lent $7,700 to an affiliate; accepted a note due in one year. c. Sold to investors 90 additional shares of stock with a par value of $0.10 per share and a market price of $10 per share; received cash. d. Purchased $19,500 of equipment, paying $4,000 cash and signing a note for the rest due in one year. e. Declared...
Following are the transactions of Dennen, Inc., for the month of
January.
Borrowed $26,500 from a local bank.
Lent $10,000 to an affiliate; accepted a note due in one
year.
Sold to investors 100 additional shares of stock with a par
value of $0.10 per share and a market price of $20 per share;
received cash.
Purchased $31,000 of equipment, paying $5,600 cash and signing a
note for the rest due in one year.
Declared and paid $1,500 in dividends...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $26,500 from a local bank. b. Lent $8,500 to an affiliate; accepted a note due in one year. c. Sold to investors 80 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash. d. Purchased $21,500 of equipment, paying $4,700 cash and signing a note for the rest due in one year. e. Declared...
Following are the transactions of JonesSpa Corporation, for the
month of January.
Borrowed $26,500 from a local bank.
Lent $11,000 to an affiliate; accepted a note due in one
year.
Sold to investors 110 additional shares of stock with a par
value of $0.10 per share and a market price of $10 per share;
received cash.
Purchased $34,000 of equipment, paying $5,700 cash and signing a
note for the rest due in one year.
Declared $1,800 in cash dividends to...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $25,000 from a local bank. b. Lent $8,400 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $25 per share; received cash. d. Purchased $24,000 of equipment, paying $4,700 cash and signing a note for the rest due in one year. e. Declared...
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $24,000 from a local bank. b. Lent $7,700 to an affiliate; accepted a note due in one year. c. Sold to investors 90 additional shares of stock with a par value of $0.10 per share and a market price of $10 per share; received cash. d. Purchased $19,500 of equipment, paying $4,000 cash and signing a note for the rest due in one year. e. Declared...
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