How do I prepare these journal entries?
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I have a list of dates and purchases/credits and need to create a general accounting journal, I don't even know where to start! Prepare general journal entries for the following ...show more
Answer:
Some of the credits are wrong in the 1st answer. 8/1 Cash 7,500 Equipment 32,500 Owner's Equity 40,...
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How to prepare journal entries for this problem?!? On July 23 of the current year, Justin Mining Company pays $4,836,000 for land estimated to contain 3,900,000 tons of recoverable ore. It installs machinery costing $390,000 that has a 10-year life and...
Answer:
As the duration of the mining is 8 years the depreciation rate is 10 / 8 = 12.5% same rate should be...
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Prepare the journal entries to record the following transactions on Monroe Company's books using a perpetual inventory system. (a) On March 2, Monroe Company sold $900,000 of merchandise to Churchill Company, terms 2/10, n/30. The cost of the merchandise...
Answer:
i wish dumbass answers could be penalized more, but then, i might find myself in a pickle
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Desperate need of help with this one question..... Prepare journal entries to record the following merchandising transactions of Flora Company, which applies the perpetual inventory system. (Hint: It will help to identify each receivable and payable...
Answer:
July 1 Purchased merchandise from Arch Company for $6,300 under credit terms of 3/15, n/30, FOB shipping...
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Stock Investments Prepare the general journal entries to record the following transactions for the RAT Corporation relating to investments. a. The RAT Corporation purchased 200 shares of Mouse Enterprises common stock as an investment for $40 per share...
Answer:
looking for hw help? post this on the hw section not sure what date description means sorry
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Problem 11 Stock Investments Prepare the general journal entries to record the following transactions for the RAT Corporation relating to investments. a. The RAT Corporation purchased 200 shares of Mouse Enterprises common stock as an investment for...
Answer:
a.Investment - Mouse Enterprises Common Stock: 8,200 Cash: 8,200 b.Cash: 300 Income - Dividend 300 c...
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Prepare the journal entries to record the reimbursement of petty cash fund. General ledger account Petty cash has a balance of 3,000.00 Coins and Currency - 152.00 An IOU from Allison, an employee for cash advance- 740.00 Petty cash vouchers for the...
Answer:
There are five main transactions in the QuickBooks software involving employees. Each transaction may...
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Q1 nov 1 75000 shares of common stock were issued and sold at a price of $57 nov 2 100 shares of common stock @ $57 were given in exchange for organizational cost. nov5 5000 shares of preferred stock were sold at $100 in exchange for a building ,cumulative...
Answer:
Nov 1: debit Cash and credit Common Stock for 4,275,000 Nov 2: debit Organization Costs and credit Common...
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