Question: 2 Log in o Mail - Talal Daud - Outlook mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fims.mheducation.com%252Fmghmiddleware%252F Saved Help Save Following are the transactions of JonesSpa Corporation, for the month of

2 Log in o Mail - Talal Daud - Outlook mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fims.mheducation.com%252Fmghmiddleware%252F Saved Help Save Following are the transactions of JonesSpa Corporation, for the month of January a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share, received cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared $2,000 in cash dividends to stockholders, to be paid in February For each of the preceding transactions, post the effects of the transaction in the appropriate T-accounts. Beginning balances are provided Cash 900 Notes Receivable 1,000 Beg. Bal. Beg Bal End. Bal End. Bal. Notes Payable Equipment 15,100 Beg. Bal. Beg. Bal 3,000 End. Bal. End. Bal. Dividends Payable Common Stock 0 1,000 Beg. Bal. Beg. Bal. End. Bal End. Bal Additional Pald-in Capital 3,000 Retained Earnings 10,000 Bega Beg. Bal. End, Bal End. Bal
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
