Pharoah Corporation had the following transactions.
Sold land cost $ for $
Issued common stock at par for $
Recorded depreciation on buildings for $
Paid salaries of $
Issued shares of $ par value common stock for equipment worth $
Sold equipment cost $ accumulated depreciation $ for $
For each transaction above, prepare the journal entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List all debit entries before credit entries.
ction Account Titles and Explanation
Debit
Credit
Cash
Gain on Disposal of Plant Assets
Land
Cash
Common Stock
Depreciation Expense
Accumulated DepreciationBuildings
Salaries and Wages Expense
Equipment
Common Stock
Paidin Capital in Excess of Par ValueCommon Stock
Accumulated DepreciationEquipment
Gain on Disposal of Plant Assets
