Questions: 1) Journal & Ledger Examples: (60 points) 1. Chip Company received 300.000 cash for common...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Questions: 1) Journal & Ledger Examples: (60 points) 1. Chip Company received 300.000 cash for common stock, on 01.11.2022. 2. Chip Company purchased a building and paid 50.000 cash, on 05.11.2022. 3. Chip Company performed services for clients on account 25.000, on 07.11.2022. 4. Chip Company paid 2.500 cash for office rent.on 08.11.2022. 5. Chip Company paid cash 6.000 for employee salaries, on 09.11.2022. 6. Chip Company purchase a 30.000 land on account, on 15.11.2022. 7. Chip Company collected 17.000 cash from client in Transaction 3, on 20.11.2022. 8. Chip Company paid 8.000 cash for dividends, on 21.11.2022. I 9. Chip Company paid 15.000 for land from Transaction 6, on 29.11.2022. Please do journal and ledger records of Chip Company. Questions: 1) Journal & Ledger Examples: (60 points) 1. Chip Company received 300.000 cash for common stock, on 01.11.2022. 2. Chip Company purchased a building and paid 50.000 cash, on 05.11.2022. 3. Chip Company performed services for clients on account 25.000, on 07.11.2022. 4. Chip Company paid 2.500 cash for office rent.on 08.11.2022. 5. Chip Company paid cash 6.000 for employee salaries, on 09.11.2022. 6. Chip Company purchase a 30.000 land on account, on 15.11.2022. 7. Chip Company collected 17.000 cash from client in Transaction 3, on 20.11.2022. 8. Chip Company paid 8.000 cash for dividends, on 21.11.2022. I 9. Chip Company paid 15.000 for land from Transaction 6, on 29.11.2022. Please do journal and ledger records of Chip Company.
Expert Answer:
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
Students also viewed these finance questions
-
On January 1, 2007, Zui Corporation purchased a building and equipment that had the following useful lives, residual values, and costs: Building: 40-year estimated useful life, $50,000 residual...
-
On January 1, 2010, Zui Corporation purchased a building and equipment that had the following useful lives, residual values, and costs: Building: 40-year estimated useful life, $50,000 residual...
-
On January 1, 2015, McElroy plc purchased a building and equipment that have the following useful lives, residual values, and costs. Building, 40-year estimated useful life, 50,000 residual value,...
-
Maria is opposed to the idea of same-sex marriage. In a recent conversation in the school cafeteria, Maria argues, "If homosexuals are allowed to marry, then why not allow polygamy or other kinds of...
-
When might an amount be material to management but not to the CPA auditing the financial statements?
-
What management, organization, and technology issues would have to be addressed if a company were thinking of equipping its workers with wearable computing devices?
-
A mass spectrometer similar to the one in Figure P24.67 is designed to analyze biological samples. Molecules in the sample are singly ionized, then they enter a \(0.80 \mathrm{~T}\) uniform magnetic...
-
Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast. Because of a large backlog of orders for oak and cherry cabinets, the company decided to...
-
Assume you are Ryan and decide to take the job. What issues or concerns would you have? Consider the following questions: What terms or conditions would you insist upon if you were to take this job?...
-
Suppose that an investor holds a share of Sophia common stock, currently valued at $50. She is concerned that over the next few months the value of her holding might decline, and she would like to...
-
S Pellah beginning capital $80,000 and M Berry beginning capital $120,000 are partners. During 2017 the partnership earned net income of $90,000 and Pellah made drawings of $24,000 while Berry made...
-
Commonwealth Edison ("ComEd") provides electricity in Chicago. The utility is owned by Exelon ("Exelon Corporation and Subsidiary Companies") and Exelon pays a dividend. However, Exelon does not...
-
Choose the response that accurately completes the following sentence. To meet one of the due diligence requirements of a paid tax preparer, it is not enough to ask more questions; tax preparers must...
-
What did you learn from your earlier accounting courses? What do you want to learn in this course? What are your professional goals? Why is it important to have a governing set of principles for...
-
The ability of any organization to play its roles can be judged by considering organization aims or aspirations of the Operations function; Identify and briefly explain the Four (4)Hayes and...
-
What is the strength of the magnetic field at point P in (Figure 1)? Assume that I = 6.0 A, r = 1.3 cm, and r = 2.6 cm Express your answer with the appropriate units. View Available Hint(s) B = HT ?
-
Western Vole-taic started operations early in 2022, making and selling kits to convert gas vehicles into fully electric vehicles. The following events occurred during their first year: a. Paid $2,000...
-
In a nonmagnetic medium, E = 50 cos (10 9 t 8x) a y + 40 sin (10 9 t 8x) a z V/m find the dielectric constant r and the corresponding H.
-
Arantxa Corporation made the following cash purchases of securities during 2008, which is the first year in which Arantxa invested in securities. 1. On January 15, purchased 10,000 shares of Sanchez...
-
Specific identification is sometimes said to be the ideal method of assigning cost to inventory and to cost of goods sold. Briefly indicate the arguments for and against this method of inventory...
-
Presented below is financial information for two different companies. Instructions Compute the missingamounts. Eduardo Company Company $90,000 $ 5,000 Alatorre Sales Sales returns Net sales Cost of...
-
If we roll a die, the obvious sample space is . If we can observe and are interested in the exact outcome, then we may consider singleton events consisting of a single outcome, The natural...
-
Consider the sample space and the partition Let be the field generated by this partition, and define the mapping as follows: This seemingly innocent mapping is not a random variable with respect to...
-
Given , consider the family of subsets This is not a field, since, for instance, . = {1,2,3,4}
Study smarter with the SolutionInn App