Monroe Company rents electronic equipment. During September 2009, Monroe engaged in the transactions described below. Sept. 5

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Monroe Company rents electronic equipment. During September 2009, Monroe engaged in the transactions described below.
Sept. 5 Purchased a Chevrolet truck for $32,000 cash
8 Purchased Sony amplifiers for $2,500 on account
10 Purchased $1,750 of office supplies on credit
11 Rented sound equipment to a traveling stage play for $15,000. The producer of the play paid for the service at the time it was provided.
12 Rented sound equipment and lights to a local student organization for a school dance for $5,100. The student organization will pay for services within 30 days.
Sept. 18 Paid employee wages of $4,300 that have been earned during September
22 Collected the receivable from the September 12 transaction
23 Borrowed $12,800 cash from a Citibank on a three-year note payable
28 Sold common stock to new stockholders for $35,750
30 Paid a $3,850 cash dividend to stockholders

Required:
Prepare a journal entry for each transaction.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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