Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

10/01 XX company was formally established, and shareholders contributed $5,000,000 to obtain common shares of the company. 10/01 Pay the office rent for half a

10/01 XX company was formally established, and shareholders contributed $5,000,000 to obtain common shares of the company. 10/01 Pay the office rent for half a year, and the monthly rent is $80,000. 10/25 Hire employees, with a monthly salary of $45,000. 11/05 Purchased $250,000 of goods from KFC Company on account . 11/15 sale $500,000 worth of goods to MM Company on credit. 11/20 Pay half of the purchase price of KFC. 11/30 Pay the employee's salary of the month $45,000 12/05 Received an account of $350,000 owed by MM. 12/08 Received and paid the November utility bill of $4,500. 12/20 sale $152,500 of goods to QQ company. 12/31 Please remember to make adjustment entries

Please help me journalize all transactions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exploring Public Relations Global Strategic Communication

Authors: Ralph Tench, Liz Yeomans

4th Edition

1292112182, 9781292112183

More Books

Students also viewed these Accounting questions

Question

5. How is Mr. Bonner encouraging Marcuss self-efficacy?

Answered: 1 week ago