Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. freitas corporation was organized early in 2021. t

freitas corporation was organized early in 2021. the following expenditures were made during the first...

80.2K

Verified Solution

Question

Accounting

Freitas Corporation was organized early in 2021. The following expenditures were made during the first few months of the year: Attorneys fees in connection with the organization of the corporation $ 15,100 State filing fees and other incorporation costs 6,300 Purchase of a patent 22,500 Legal and other fees for transfer of the patent 4,400 Purchase of equipment 32,600 Preopening salaries and employee training 43,000 Total 123,900 Required: Prepare a summary journal entry to record the $123,900 in cash expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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

Biology
1.2K views

A 12 y old boy complained of tiredness and not feeling well. His mother noticed that...

Advance Math
1.2K views

(a) Add 13134 + 22134 by hand. (b) Form the base-3 complement x of 12123 such that 12123...

Geometry
1.2K views

In the figure A B C and D are points of tangency calculate x a...

Basic Math
1.2K views

Use the graph to find the slope of the given line Enter the answer as...

Basic Math
1.2K views

Givenf(x) = 2x + 7x + 14x - 9. Use the intermediate value theorem to...

Basic Math
1.2K views

Find the formula, in standard form y = ar+bx+c, for a quadratic that has roots...

Statistics
1.2K views

O Points 0 of 1 The table shows the average weekly wages in dollars for...

Algebra
1.2K views

Choose the expression equivalent to 7 Which of the following expressions is equivalent to 7...

Accounting
1.2K views

Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following...

Accounting
1.2K views

The price of the stock of Duck Corporation went from $51 to $61 last year....

Accounting
1.2K views

27. Save and close your file. EA5-A2 Create a Bank Reconciliation or rasters Club TI...

Accounting
1.2K views

What Is an Administrative Budget? I want you to write an article on How to...