Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. show the double journal entries for these transact

Show the double journal entries for these transactions. 1. The company issued some...

60.1K

Verified Solution

Question

Accounting

Show the double journal entries for these transactions.
1. The company issued some shares for $2,500(the nominal/par value for those shares is $2,000).
2. A machine that cost $ 3,000 is purchased for cash.
3. Materials are purchased on credit for $ 850.
4. A business computer was purchased for $ 4,500 and is financed by a loan from a friend. (The company has to pay back the loan over 1 year).
5. Accounts receivable amounting to $ 750 are collected from customers
6. $ 200 is paid to a supplier.
7. Goods are purchased from cash $ 350.
8. A filing cabinet is purchased for $ 80 by increasing an existing bank overdraft
9. Intangible costing $8,000 purchased for cash
10. The company paid back $600 from long-term loan
11. The dividend was declared, and the amount was $100
12. Dividend paid: $100

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

Psychology
1.2K views

What if a policy maker comes along with data that shows that school absenteeism is due to...

Accounting
1.2K views

Hank started a new business, Hank’s Donut World (HW for short), in June of last year....

Accounting
1.2K views

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption...

Physics
1.2K views

A broadcast circuit can broadcast at 300 Mhz band A condenser of capacitance 2 4...

Calculus
1.2K views

3 3 47 3 3 find det A Given the matrix A 4 4 3...

Calculus
1.2K views

Suppose that lim f x 9 and lim g x 3 Compute the limits that...

Accounting
1.2K views

Lavage Rapide is a Canadian company that owns...

Accounting
1.2K views

Pick an organization you know such as a school, a local firm, an entertainment business,...

Accounting
1.2K views

Helix Company produces several products in its factory, including a karate robe. The company uses...

Accounting
1.2K views

At the formation of Berry Partnership, Straw contributes land with a basis of $190,000 and...

Finance
1.2K views

In the context of recent research on the Weighted Average Cost of Capital (WACC), the...

Accounting
1.2K views

Wexxon Plc currently makes four products for sale on the local market. Details of the...