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

Q

Find the following probability for a standard normal random variable, P(Z ≥ -2.16 )

Statistics
Q

Problem 2) Willy Wonka’s Chocolate Factory produces four types of chocolate bars: • 30 percent of...

Statistics
Q

Consider a hydrogen atom following the Bohr model. A) What are the four lowest energy levels? B)...

Chemistry
Q

Create a diagram and explain the right-hand rule for the motor principle. Draw a diagram of a...

Physics
Q

Describe the differences between the terms in each of the following pairs Coelomate tube in...

Biology
Q

Two identical copper spheres carrying charges Q and 9Q seperated by a cert ain distance...

Physics
Q

If a company spends million dollars on research, it sales will be s million dollars,...

Basic Math
Q

Una mquina con un costo de $139 000 y una depreciacin acumulada de $94 000...

Accounting
Q

Bonds Payable has a balance of $1,186,000 and Discount on Bonds Payable has a balance...

Accounting
Q

question 11 Contribution Margin and Contribution Margin Ratio For a recent...

Accounting
Q

Cut = = Paste Copy Calibri 11 A A BIU---A 2 Wrap Text Merge &...

Accounting
Q

(b) Under existing standards in IAS 37, prepare the December 31 entry, if...

Accounting