Journalize the following transactions : Transaction Description of transaction 01. 02. 03. June 1: Byte of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Journalize the following transactions : Transaction Description of transaction 01. 02. 03. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $24,200 in cash and computer equipment with a fair market value of $34,540 were received. June 1: Byte of Accounting, Inc. issued 2,419 shares of its common stock after acquiring from Courtney $40,700 in cash, computer equipment with a fair market value of $11,880 and office equipment with a fair value of $638. June 1: Byte of Accounting, Inc. acquired $57,200 in cash from majid almasrouri and issued 2,600 shares of its common stock. Journalize the following transactions : Transaction Description of transaction 01. 02. 03. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $24,200 in cash and computer equipment with a fair market value of $34,540 were received. June 1: Byte of Accounting, Inc. issued 2,419 shares of its common stock after acquiring from Courtney $40,700 in cash, computer equipment with a fair market value of $11,880 and office equipment with a fair value of $638. June 1: Byte of Accounting, Inc. acquired $57,200 in cash from majid almasrouri and issued 2,600 shares of its common stock.
Expert Answer:
Answer rating: 100% (QA)
Explanation Stocks Stocks or Shares refer to the instrument bei... View the full answer
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Posted Date:
Students also viewed these accounting questions
-
A subsidiary sells additional shares of its common stock to a nonaffiliate at a price that is higher than the previous book value per share. How does the sale benefit the existing shareholders?
-
In 1970, Wal-Mart offered 300,000 shares of its common stock to the public at a price of $16.50 per share. Since that time, Wal-Mart has had 11 two-for-one stock splits. On a purchase of 100 shares...
-
A printing press priced at a fair market value of $300,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the...
-
During a worldwide recession in 1983, the oil cartel began to lower prices. Why would a recession make the cartel more vulnerable to price cutting? How would the reduced demand be shared between the...
-
Why might one person work more, earn more, and pay more income tax when his or her tax rate is cut, while another person will work less, earn less, and pay less income tax under the same circumstance?
-
Solve the following problem over the interval from x = 0 to 1 using a step size of 0.25 where y(0) = 1. Display all your results on the same graph. dy/dt = (1 + 4t) y (a) Analytically. (b) Euler's...
-
Compute the value of the chi-square statistic. Exercises 49 refer to the following data: Electric motors are assembled on four different production lines. Random samples of motors are taken from each...
-
PEI Potatoes processes potatoes into potato cuts at its highly automated plant. For many years, it processed potatoes for only the retail consumer market where it had a superb reputation for quality....
-
The capital structure of a company during the whole of this current financial year has been as follows: Ordinary Shares $1 fully paid - market value $800,000 6% debentures ($100 par value) $212,000...
-
1. 19 of 22 participants (86.36%) from the high-power posing group took a gambling risk to double their money, while 12 of 20 (60%) from the low-power posing group took the gambling risk. Use a...
-
Pension fund XY has a large investment portfolio comprising bonds and equity. The trustees are concerned about a fall in value over the next year as economies worldwide emerge from the Covid-19...
-
Direct Labor Beginning Finished goods inventory Ending Finished goods inventory Total Manufacturing costs Applied to Jobs Raw [direct] Materials Used in Production Beginning Work in Process Inventory...
-
The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable $120,000 48,000 Maintenance expense 21,400 Advertising expense 17,060...
-
For this particular reaction, are the exo and endo forms of product 1 different stereoisomers or are they the same molecule? If the 1,4-adduct of anthracene and maleic anhydride had formed, would it...
-
1. Consider an AR(1) regression model with stationary data: where a and p (p| < 1) are unknown parameters, ut is i.i.d (0,0). Suppose that the data is stationary. (a) Let u = E(yt), show that =...
-
Following are constitutional isomers of the molecular formula C7H16. Predict which isomer has the lowest boiling point and which isomer has the highest boiling point. Rank the following in order of...
-
The bacteria geobacter metallireducens was discovered to acquire a net electric charge by consuming electrons as its energy source. These bacteria often transfer electrons by forming long chains that...
-
A supermarket chain is interested in exploring the relationship between the sales of its store-brand canned vegetables (y), the amount spent on promotion of the vegetables in local newspapers (x1)...
-
Suppose Diamond, Inc., reported net receivables of $2,586 million and $2,268 million at January 31, 2011, and 2010, after subtracting allowances of $70 million and $64 million at these respective...
-
Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, are $110,000 and $106,000, respectively. Depreciation for the period was $9,000, and purchases...
-
Prudhoe Bay Oil Co. is having its initial public offering (IPO) of company stock. To create public interest in its stock, Prudhoe Bays chief financial officer has blitzed the media with press...
-
Refer to Problem P3-46 Problem P3-46 The accounts of Marciano Services Ltd. at March 31, 2020, are listed in alphabetical order. 1. Use the Marciano Lid. data in problem P3-46A to prepare the...
-
The accounts of Marciano Services Ltd. at March 31, 2020, are listed in alphabetical order. Requirements 1. All adjustments have been journalized and posted, but the closing entries have not been...
-
Sundance Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: Requirements 1. Make the adjusting entries that account for the differences between the two trial balances....
Study smarter with the SolutionInn App