Journalize the following business transactions in general journal form. Identify each transaction by number. You may...
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Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations. 1. Received $50,000 from shareholders in payment for common shares issued. 2. Purchased equipment for $90,000, paying $30,000 in cash and signing a bank loan for the balance. 3. Paid $1,200 for a one-year insurance policy. 4. Recorded $25,000 for services provided on account. 5. Paid salaries of $6,500. 6. Received $15,000 in cash for services provided. 7. Collected $4,000 from customers orf account. 8. Received $2,000 from a new customer for services to be provided next month. You are to complete the questions above in general journal form on a separate document. Acceptable formats include: word document, excel documents, documents written by hand (scanned and uploaded as a pdf or jpeg file), or any template you have access to that fulfils the question requirements. You will then upload this or 'drag and drop' the file(s) into the upload box at the bottom of this question box. Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations. 1. Received $50,000 from shareholders in payment for common shares issued. 2. Purchased equipment for $90,000, paying $30,000 in cash and signing a bank loan for the balance. 3. Paid $1,200 for a one-year insurance policy. 4. Recorded $25,000 for services provided on account. 5. Paid salaries of $6,500. 6. Received $15,000 in cash for services provided. 7. Collected $4,000 from customers orf account. 8. Received $2,000 from a new customer for services to be provided next month. You are to complete the questions above in general journal form on a separate document. Acceptable formats include: word document, excel documents, documents written by hand (scanned and uploaded as a pdf or jpeg file), or any template you have access to that fulfils the question requirements. You will then upload this or 'drag and drop' the file(s) into the upload box at the bottom of this question box.
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Answer rating: 100% (QA)
Journal Entries Event Particulars Debit Credit 1 Cash Dr 5000000 To Common stock 500000... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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