Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. journalize the following transactions for xyz comp

Journalize the following transactions for XYZ company. This company has been in business for over...

60.1K

Verified Solution

Question

Accounting

Journalize the following transactions for XYZ company. This company has been in business for over 10 years

John Smith purchased $10,000 of capital stock from XYZ Company.

Purchased equipment for $6,000 cash.

Purchased supplies on account for $2,000.

Paid salaries to employees of $400.

Billed clients for services rendered, $9,000.

Paid creditors on account, $1,000.

Received cash from cash clients for services rendered, $6,000.

Received $9,000 from clients on account in number 5.

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

Q

and Quiz Questic A student receives test scores of 62 83 worth 20 of the...

Statistics
Q

Unemployment among high school graduates is quite high due to a recession. City Community College is...

Finance
Q

A single-storey brick veneer house (single layer of brick on a timber frame) has a front...

Civil Engineering
Q

(Advanced Calculus and Real Analysis) - Cantor set, Lebesgue outer measure * (a) Define the Cantor set. (b)...

Advance Math
Q

Interview Notes Jeff and Linda got married in December of 2018. They are both U.S. citizens with...

Accounting
Q

Media that allows you to tell different bacteria apart from each other color/appearance in the...

Biology
Q

uragging statements from the left column to the right column below give a proof by...

Basic Math
Q

The marginal cost in dollars per square foot of installing x square feet of kitchen...

Basic Math
Q

1 Find AC A 118 24 22 B

Calculus
Q

Please answer, this question has been asked but not answered.

Accounting
Q

The comparative financial statements for Prince Company are below: ...

Accounting
Q

Question 20 Which of the following is NOT true with regards to the 'Goal Seek'...

Finance