Prepare journal entries for the following transactions that occurred during March: 201X Mar. 1 Jordan Doxbury invested
Question:
201X
Mar. 1 Jordan Doxbury invested $50,000 cash and $5,000 of equipment into her new business.
3 Purchased building for $20,000 on account.
12 Purchased a truck from Lancaster Co. for $15,000 cash.
18 Bought supplies from Roger Co. on account, $1,000.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Date Account Titles and Description PR Dr Cr 201X Mar 1 Cash 50 0 0 0 00 ...View the full answer
Answered By
Akash Goel
I am in the teaching field since 2008 when i was enrolled myself in chartered accountants course
Since then i have an experience of teaching of class XI, XII, BCOM, MCOM, MBA, CA CPT.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Prepare journal entries for the following transactions that occurred during April: 201X Apr. 1 Jan Dimon invested $100,000 cash and $18,000 of equipment into her new business. 3 Purchased building...
-
Prepare journal entries for the following transactions that occurred during July: 201X July 1 Jodi Wills invested $90,000 cash and $11,000 of equipment into her new business. 3 Purchased building for...
-
Prepare journal entries for the following transactions that occurred during October: 2014 Oct. 3Janet Wills invested $70,000 cash and $6,000 worth of equip 6 13 17 ment in her new business. Purchased...
-
At year-end 2010, 28,879 million represents: A. the funded status of the plan. B. the defined benefit obligation. C. the fair value of the plans assets. Kensington plc, a hypothetical company based...
-
A gene has 200 non synonymous sites and 100 synonymous sites. The synonymous sites have mutation rate 6.0 10-7/yr, while non synonymous sites have mutation rate 3.0 10-9/yr. What is the expected...
-
A fast food restaurant has four kinds of employees: (1) order takers, who take customers orders; (2) cooks, who prepare the food; (3) packaging specialists, who stuff the food into bags; and (4)...
-
With reference to Exercise 4.88, find the variance of the probability distribution using (a) the formula that defines \(\sigma^{2}\); (b) the special formula for the variance of a binomial...
-
The following information was taken from the records of Liberty Tool Manufacturing Company for its production of jackhammers in the month of July: Required: 1. Calculate the materials price and...
-
The entire graph of the function h is shown in the figure below. Write the domain and range of h using interval notation. 3 m 3 4
-
Assume an algorithm that takes log 2 n microseconds to solve a problem. Find the largest input size n such that the algorithm solves the problem in time in 24 days. a) 2 140000 b) 2 1440000 c) 2...
-
You have been hired to correct the trial balance in Figure that has been recorded improperly from the ledger to the trialbalance. SANDY Co. TRIAL BALANCE JANUARY 31, 201x Dr. Cr. 90000 925 000 A....
-
Record the following into the general journal of Ricks Auto Shop. 201X Sep. 1 Rick Stone invested $110,000 cash in the auto shop. 5 Paid $9,000 for auto equipment. 8 Bought from Lexington Co. auto...
-
In an examination of Garganta Limited as at December 31, 2020, you have learned about the following situations. No entries have been made in the accounting records for these items. 1. The corporation...
-
Explain what learning is in psychology . Identify the different learning styles and provide an example of each
-
Computer fraud is easiest at the data collection stage. Why? Since all fraud involves some form of financial misstatement, how is Fraudulent Statement fraud different? Explain the problems associated...
-
The reaction H2(g) +12(g) 2 HI(g) is allowed to reach equilibrium at 725 C. The concentrations at equilibrium are [H2] = 0.0959 M. [12] = 0.137 M, and [HI] = 0.843 M. What is the value of the...
-
Kate company uses the perpetual inventory system. Record the journal entries for the following transactions a on July 1 6 Kate sold $ 2 7 0 0 of merchandise with terms 2 / 1 0 n / 3 0 . The cost of...
-
Research a publicly traded company that recently acquired another company and analyze the performance of the combined company and ascertain at least two benefits that the combined companies gained...
-
What SELECT statement would you use in a longer query to calculate the amount of money earned by each instructor based on the length of time for the class and $20 per hour? Display the instructors...
-
A stock has had returns of 8 percent, 26 percent, 14 percent, 17 percent, 31 percent, and 1 percent over the last six years. What are the arithmetic and geometric average returns for the stock?
-
What are some of the reasons to use joint requirements planning (JRP) as a fact-finding technique? What should be the basis for selecting which users and managers will participate in the JRP session,...
-
The Alton Company uses the perpetual inventory system. Record the transactions in a two-column journal. All credit sales are n/30. 201X June 5 Purchased merchandise on account totaling $2,100; terms...
-
Salem Electronics, an electronics supply company, uses the perpetual inventory system with a subsidiary inventory ledger to maintain control over an inventory of thousands of electronic parts. The...
-
Ada Company, using the periodic inventory system, began the year with 150 units of product B in inventory with a unit cost of $35. The following additional purchases of the product were made: Apr. 1...
-
Based on the introductory in Public Finance, what do you think must be the main role of the government in our individual lives? Any references will do, as long as the answer is related to question...
-
Apercu Industries borrowed $92,350 for 200 days at 15% simple interest. Find the total interest they will pay (a) using bankers' rule and (b) using the exact method.
-
On January 4th, Mark went to the hospital to have an appendectomy. His deductible is $2,500 and since it is the beginning of the year, he has not contributed anything to the deductible yet. The total...
Study smarter with the SolutionInn App