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

Q

Calculate the energy difference for a transition in the Paschen series for a transition from the...

Chemistry
Q

What are two ways by which bacteria can overcome (or avoid) the effects of antibiotics? (i.e.,...

Biology
Q

•A theater owner agrees to donate a portion of gross ticket sales to a charity •The program...

Programming
Q

When would researchers need high internal validity? When would they need high external validity? research methods pys230

Psychology
Q

Glenn Howell, vice president of standard insurance staff, has developed a new training program fully adaptable...

Basic Math
Q

How does change in risk impacts return and firm's value.

Finance
Q

City Art Museum ("City") is considering hosting a travelling exhibit of paintings by a famous artist,...

Accounting
Q

7 Explain why astronomers have deduced that galaxies contain a large quantity of Dark Matter

Algebra
Q

8 cm 4 cm 21 cm 3 cm Find the area of the gray region...

Algebra
Q

Consider each of the following independent situations: Required: For each situation, calculate the missing...

Accounting
Q

On June 30, Year 3, Munoz Company's total current assets were $501,500 and its total...

Accounting
Q

QUESTION Business Research You have been approached by the editor of Gentlemen's Magazine to carry...

Accounting