KJSC , Inc. - Using the following information, create journal entries and t - accounts ON A
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KJSC Inc. Using the following information, create journal entries and taccounts ON A SEPARATE PIECE OF PAPER.
PLEASE NOTE these facts will only be presented in this question. You will need your prepared journal entries and taccounts to answer the remaining questions. You will then need this information to answer the following multiple choice questions.
During X the following transactions occurred for KJSC Inc.:
On January the company issued shares of stock for $ per share
On January the company borrowed $ from the bank. The loan was at
Purchased land for $
Purchased Jarretts at $ each in cash
Sold Jarretts for $ each
Paid cash for wages of $
Paid twelve months' rent of $
Paid $ for advertising for X
Sold shares of common stock for $ a share on September X
Paid Utility bill for X of $
On December paid payment on Note Payable of $ principal plus $ interest
Paid a $ dividend to shareholders on December X
Also, during the year, the company paid of their X taxes. The tax rate is
At December X the company owed $ in wages which had not yet been paid.
There are seven journal entries to record.
To include the description of the journal entry there is a box call "explanation."
There maybe more lines than needed in the journal entry.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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