A to Z Fabrication, Inc., engaged in the following business transactions during August 2016: Aug 1 Borrowed

Question:

A to Z Fabrication, Inc., engaged in the following business transactions during August 2016:

Aug 1 Borrowed $225,000 from State Bank. The company president signed a note payable to the bank in the name of A to Z Fabrication, Inc.

3 Paid $200,000 cash to purchase an office building.

6 Provided services to customers on account, $19,000.

9 Purchased $245 of office supplies on account.

13 Provided services to cash customers, $7,600.

15 Paid $5.000 of dividends to company stockholders.

17 Received payment on account from credit customers, $6.600.

18 Paid property tax expense on office building, $1,200.

22 Paid employee salaries, $2.500.

26 Paid cash to purchase supplies, $185.

31 Paid $150 on account.

A to Z Fabrication, Inc., uses the following accounts: Cash, Accounts Receivable, Supplies, Building, Accounts Payable, Notes Payable, Common Stock, Dividends, Service Revenue, Salaries Expense, and Property Tax Expense.

Requirement

Journalize each transaction. Omit explanations?

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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