Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. purchased short-term investments for $10,000 cash.

Purchased short-term investments for $10,000 cash. b. Lent $5,000 to a supplier, who signed...

60.1K

Verified Solution

Question

Accounting

Purchased short-term investments for $10,000 cash. b. Lent $5,000 to a supplier, who signed a two-year note. Purchased equipment that cost $18,000; paid $5,000 cash and signed a one-year note for the balance. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. Issued an additional 2,000 shares of $0.50 par value common stock for $11,000 cash. Borrowed $9,000 cash from a local bank, payable in three months. 8. Purchased a patent (an intangible asset) for $3,000 cash. Built an addition to the factory for $24,000; paid $8,000 in cash and signed a three-year note for the balance. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000. Create a journal entry

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

Civil Engineering
1.2K views

An agricultural land prone to rainfall showed that the pesticides used over the crops have been washing...

Chemistry
1.2K views

draw full sn1 mechanism for a reaction that includes 2-methyl-2-propanol, n-pentanol and hydrochloric acid as the reactants...

Physics
1.2K views

8 a Name the type of radiation which when enters the muscle tissues produces heat...

Physics
1.2K views

A particle is projected upwards with velocity 60 m s In 8 s Average velocity...

Basic Math
1.2K views

A mortgage company charges customers a late fee for late payments that is based on...

Calculus
1.2K views

If A = 31 and c = 19, find the missing sides and angles in...

Algebra
1.2K views

Consider the graph of the function f(x) =(x - 81)/(x-5x-36) . Find the x-value of...

Algebra
1.2K views

Write an equation any form for the quadratic graphed below 6 5 4 2 6...

Accounting
1.2K views

10.) A company had average total assets of $4,060,000, total cash flows of $2,760,000, cash...

Accounting
1.2K views

The cash account for Coreys Construction Company at August 31, 2018, indicated a book balance...

Finance
1.2K views

Your firm has been asked to provide assurance on forecasts that will be presented to...

Finance
1.2K views

Case 3: A mortgage banker is originating a level-payment mortgage with the following terms: Annual...