Question: Prepare a journal entry on June 30 for the payment
Prepare a journal entry on June 30 for the payment of dividends of $11,500.
Answer to relevant QuestionsOn February 1, the cash account balance was $14,750. During February, cash payments totaled $93,400, and the February 28 balance was $15,200. Determine the cash receipts during February.The following errors took place in journalizing and posting transactions:a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.b. The purchase of supplies ...Value Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Capital Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising ...Indicate which of the following errors, each considered individually, would cause the trial balance totals to be unequal:a. A fee of $21,000 earned and due from a client was not debited to Accounts Receivable or credited to ...Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2014, is shown below.The following business transactions were completed by Elite Realty during ...
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