Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare the journal entries for the following tran

Prepare the journal entries for the following transactions 2 Marks eaon (Vou will be marked...

80.2K

Verified Solution

Question

Accounting

image
Prepare the journal entries for the following transactions 2 Marks eaon (Vou will be marked on Dr/Gt correct account and the correct amount - noe answers in merase provided this format to receive full marks Exampie Cash Accounts Receivable $5,000 $5,000 Transactions Bought land for 15 000 shares with a $35 per share market value 21 Paid six months rent in advance for a total of $6.000 Paid insurance premiums for the year in the amount of $8.000 1 Purchased 520,000 of merchandise inventory on credit 5 Paid utities bill for 5450 6 Sold $8.000 of merchandise inventory for $12.000 on credit Collected a $10.000 cash deposit from customers for custom orders Paid salaries and wages of $8.500 9 Pad 58.000 on merchandise inventory previously purchased in part ) Received S7000 from customers on account 11 Deciated and paid a 55 000 dividend

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

Finance
1.2K views

3.   The owners' equity accounts for Vidi International are shown here:      Common stock ($.50 par value) $ 42,500   Capital surplus 355,000   Retained earnings 778,120      Total...

Biology
1.2K views

After pyruvate is formed it must either be converted to another molecule to enter the...

Physics
1.2K views

Cp and C are specific heats at constant pressure and constant volume respectively It is...

Geometry
1.2K views

The line whose equation is 3x 5y 4 is dilated by a scale factor of...

Calculus
1.2K views

Find Ln, Rn, and their average for the definite integral below using the indicated value...

Calculus
1.2K views

Evaluate the definite integral 32 88 3x 3x 1 dx X

Accounting
1.2K views

Exercise 14-3(Algo) Internal Rate of Return [LO14-3] Wendell's Donut Shoppe is investigating the...

Accounting
1.2K views

On January 1, 2011, Waterway Industries purchased equipment at a cost of $391000. The equipment...

Accounting
1.2K views

Required information Use the following information for the Exercises below. (Algo) [The following information applies...

Accounting
1.2K views

Cmo se debe repartir la ganancia neta o la prdida neta de la sociedad entre...

Accounting
1.2K views

Additional information about the company follows: a. Hubs require $32 in direct materials per unit,...

Finance
1.2K views

Suppose you are going to receive $20,000 per year for 7 years. The appropriate interest...