Carmen Company received $180,000 in cash as an additional investment by the stockholders (owners) of the company.

Question:

Carmen Company received $180,000 in cash as an additional investment by the stockholders (owners) of the company. Make the journal entry necessary to record the transaction.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Financial Accounting IFRS Edition

ISBN: 9789814962605

3rd Edition

Authors: Earl K Stice, James D Stice, W Steve Albrecht, Monte R Swain, Rong-Ruey Duh, Audrey Wenhsin Hsu

See More Books

Question Posted: Apr 17, 2024 02:01 AM

See More Questions

Allendorf Company received $120,000 in cash as an additional investment by the stockholders (owners) of the company. a. List the accounts impacted by the transaction. b. For each account, indicate...
The company pays its employees each Monday for the work performed during the preceding 5-day work week. Total payroll for one week is $25,000. December 31 fell on a Wednesday. (1) Make the journal...
Ethan Allen Interiors is a leading manufacturer and retailer of home furnishings with 315 retail stores in the United States and abroad. The following is adapted from Ethan Allen's June 30, 2007,...
Calculate the shape factor f for the wide flange beam shown in the figure if h = 12.2 in., b = 8.08 in., tf = 0.64 in., and tw = 0.37 in. Iw
Consider the following information, prepared based on a capacity of 100,000 units: _________________Category_________________________Cost per Unit Variable manufacturing...
(05.02 MC) Nikhil and Mae work at the same company. Nikhil has been at the company 5 times as long as Mae. Nikhil's time at the company is 8 more than 3 times Mae's time. The following system of...
A researcher hypothesizes that drivers who use cellular phones will get into a greater number of traffic accidents than drivers who do not use these phones. For this example, a. What are the...
The income statement accounts for the Monroe Realty Company at the end of its fiscal year are shown below. Prepare the required closing entries in journal form. Chris Ross is theowner. Account Name...
if V 3 = 1 0 s i n 1 0 0 t and V 4 = 9 s i n 1 0 0 0 t what is the current through the load resistor R 9 at t = 1 9 8 9 . 8 9 5 ? Resistor R 9 is a 1 1 6 watt carbon resistor, does it catch on fire...
Make the journal entries necessary to record the following eight transactions for Carmen Company. a. Purchased equipment on account for $$260,000$. b. Provided services for $$200,000$ cash. c....
Carmen Company used $30,000 in cash to repay a portion of its bank loan (see PE 3-11). For simplicity, assume that there is no interest on the loan. Make the journal entry necessary to record the...
What are the advantages of a budget?
Delbert makes homemade salsa and sells it at his roadside produce stand. Delbert's weekly cost for making salsa can be determined using the equa- tion C=2.75j+40, where C represents the cost in dol-...
If courts in the United States suddenly dispensed with informal models of criminal justice and instead relied on formal procedure, what do you think would happen to the judicial system? explain and...
Describe various opportunity costs of attending a four-year college (assuming a full-time schedule).Given these opportunity costs, why do people choose a four-year college experience? In your own...
By what deed does a grantor promise that he has done nothing to encumber the property while it was in his possession, but that it does not extend to all previous owners?
Lachlan has a Jacaranda growing in his garden.One of the tree branches is growing towards Dan's property.Dan doesn't like this and he wants Lachlan to cut down the tree.Their respective benefits are...
A lawn sprinkler can be used as a simple turbine. As shown in Fig. P11.15, flow enters normal to the paper in the center and splits evenly into Q/2 and Vrel leaving each nozzle. The arms rotate at...
An investor sells a European call on a share for $4. The stock price is $47 and the strike price is $50. Under what circumstances does the investor make a profit? Under what circumstances will the...
Below is an adjusted trial balance for Wyndham Whole Company for the month ended Aug. 31, 2024. Account Title Debits Credits Cash Accounts receivable Prepaid rent Inventory $23,000 25,000 4,000...
The stock price of XYZ, Inc. will either rise by 35% or fall by 15% over the next three months. The current price of XYZ is $100 a share. The three-month risk-free interest rate is 2%. Note that...
Bank Town Limited (BTL) is a small but growing financial institution. Bank Town Ltd is a relatively new company and they are seeking funds to expand their range of financial products to be offered to...

Carmen Company received $180,000 in cash as an additional investment by the stockholders (owners) of the company.

Question:

Step by Step Answer:

Answer The journal entry to record the additional inv...View the full answer

Principles Of Financial Accounting IFRS Edition

Students also viewed these Business questions