Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following transactions occurred during the fir

The following transactions occurred during the first year of operations for Cougar Corp. for each...

50.1K

Verified Solution

Question

Accounting

The following transactions occurred during the first year of operations for Cougar Corp. for each transaction prepare the journal entry. Note: these are NOT adjusting entries.

a. Cougar Corp. issued shares of its common stock for $120,000 cash.

b. Cougar Corp. purchased land for $68,000 cash. The market value of the land was $60,000.

c. Cougar Corp. paid employee salaries of $3,800 cash.

d. Cougar Corp. collected cash of $7,200 for services performed.

e. Cougar Corp. purchased $650 of office supplies on account.

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

Show your understanding of the unsolved mathematical below and present a description of the problem. Yang-Mills Theory...

Advance Math
Q

Two independent methods of forecasting based on judgment and experience have been prepared each month for...

Advance Math
Q

Explain using examples what/who the Supreme Court of Erie County and the Western District of New...

Operations Management
Q

38 If charge is distributed uniformly in xy plane with charge density to in first...

Physics
Q

4 Solve the following equations on 0 27 Your solution should be EXACT if possible...

Algebra
Q

ir 8400 is invested at a rate of 7 compounded continuously what will be the...

Algebra
Q

Ryan needs $5600 to buy an engagement ring. His friend agrees to lend him $5600...

Accounting
Q

A useful by-product of the legislative process is legislative history, which is used to help...

Accounting
Q

How does accounting for a governmental unit differ from accounting for a for-profit corporation? Choose...

Accounting
Q

Chicago office____ Raner, Harris, & Chan is a consulting firm...

Accounting
Q

Cul de las siguientes transacciones no creara una diferencia temporal? Grupo de opciones de...

Accounting
Q

If the sum of squares of error for a simple regression model fitted for twelve...

Accounting