Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chil name: _ date: 1. an inexperienced accountant

CHIL Name: _ Date: 1. An inexperienced accountant for Teahan Corporation made the following entries....

60.1K

Verified Solution

Question

Accounting

image
CHIL Name: _ Date: 1. An inexperienced accountant for Teahan Corporation made the following entries. July 1 Cash 170,000 Common Stock 170,000 (Issued 20,000 shares of no-par common stock, stated value $5 per share) Sept. 1 Common Stock 36,000 Retained Earnings 24,000 Cash 60,000 (Purchased 4,000 shares issued on July 1 for the treasury at $15 per share) Instructions On the basis of the explanation for each entry, prepare the entry that should have been made for the transactions. (Omit explanations.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Given m n find the 135 t o m n

Finance
1.2K views

The IFE suggests that the percentage change in the exchange rate over the investment horizon will...

Psychology
1.2K views

home / study / social sciences / psychology / psychology questions and answers / please choose...

Economics
1.2K views

How does the concept of “opportunity cost” and the idea of “tradeoffs” relate to decision-making? Why does...

Physics
1.2K views

BL 29 nathor q 0 1 mathon Q8 27 July 2021 Shift 2 What will...

Basic Math
1.2K views

Find an equation of the line with slope m that passes through the given point...

Calculus
1.2K views

Find the integral by whatever means are necessary either substitution or tables Remember to use...

Algebra
1.2K views

13 log x 2 15 log 2x 2 6 17 log 5x 62 62 19...

Algebra
1.2K views

Independent Practice 1 Which values for x below are solutions to the inequality 3x 12...

Accounting
1.2K views

Economics 1. Caleati inflatina sing a simple prica...

Accounting
1.2K views

4. Compute gross profit earned by the company for each of the four costing methods....

Accounting
1.2K views

The monthly salaries for December and the year-to-date earnings as of November 30 for the...