Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below are the transactions of the company in December 2 0 2 2 : Dec 1 Issued 1 , 0 0 0 shares of share
Below are the transactions of the company in December :
Dec
Issued shares of share capital in exchange for $ cash
Borrowed $ from bank by issuing month notes payable.
Purchased office supplies that cost $ with $ cash and the
balance on account.
Paid the dividend of $ declared in October which become
due on December to shareholders.
Billed clients $ for agency service performed, with $
collected immediately by cash and the balance due in next month.
Received $ from clients in advance for service to be conducted
over the next few months.
Collected fees receivable of $ from a client.
Issued a check in full payment of the office supplies purchased on
December.
Declared a dividend of $ to be paid on February
Paid Decembers salary expense of $ and settled all salary
payable outstanding.Below are the transactions of the company in December :
Dec Issued shares of share capital in exchange for $ cash
Borrowed $ from bank by issuing month notes payable.
Purchased office supplies that cost $ with $ cash and the
balance on account.
Paid the dividend of $ declared in October which become
due on December to shareholders.
Billed clients $ for agency service performed, with $
collected immediately by cash and the balance due in next month.
Received $ from clients in advance for service to be conducted
over the next few months.
Collected fees receivable of $ from a client.
Issued a check in full payment of the office supplies purchased on
December.
Declared a dividend of $ to be paid on February
Paid Decembers salary expense of $ and settled all salary
payable outstanding.
b Post the journal entries to the Taccounts
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