Journal entries: g$.$ Issued $200$ million additional shares of $$0\mathrm{.}01$ par value stock for $$24($$$24$ million$).$ h$.$Paid employees $$11,276$ for work during the year. i$.$ Purchased spare parts, supplies and fuel for the aircraft and equipment for $$8,964.$ j$.$ Used $$6,850$ in spare parts, supplies, fuel for the aircraft and equipment during the year. k$.$Paid $$944$ on accounts payable. L$.$Ordered $$104$ in spare parts and supplies. Other info. Account$/$Balance: PPE $($net$)$ $$15,594,$ Retained earnings$$11,206|$ Acct payable: $$1,417|$Prepaid expenses: $$188|$accrued expenses payable: $$2,230|$ Long$-$term notes payable: $$1,650|$ Other non current assets $$2,792|$ Common stock $(0\mathrm{.}01$ par value$)$ $$4|$ Receivables $ $1,949|$ other current assets $$959$ Cash $$1,044$ Spare parts,supplies $$557$ other non current liabilities $$3,530|$ other current liabilities $$2,099$ Additional paid in capital $$847.*$ These are not necessarily in good order or have normal debit credit balances.

Assume the transactions $($millions except par value$)$ occured the next fiscal year Jan. $1($the current year$).$ 

Answer rating: 100% (QA)

To prepare journal entries based on the given information we need to identify the accounts affected ... View the full answer