Question
analayzing and journalizing transactions journalize the transaction of london engineering. include an explanation with each joournal entry. use the following accounts: cash; accounts recievable; office
analayzing and journalizing transactions
journalize the transaction of london engineering. include an explanation with each joournal entry. use the following accounts: cash; accounts recievable; office supplies; equipment; accounts payable; notes payable; common stock; dividends; service revenue; utilities expense.
Transaction for london engineering
july 2 recieved $10,000 contribution from Bull London in exchange for common stock
july 4 paid utilities expense of $400
july 5 purchased equipment on account $2,100
july 10 performed services for a client on account, $2,000
july 12 borrowed $7,000 cash, signing a notes payable
july 19 cash dividends of $500 were paid to stockholders
july 21 purchased office supplies for $800 and paid cash
july 27 paid the liability from july 5
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started