Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone let me know if I have filled this out correctly? 1) Record the sale of 1.000 shares at $12 per share (=$12,000) Credit

Can someone let me know if I have filled this out correctly?

image text in transcribed
1) Record the sale of 1.000 shares at $12 per share (=$12,000) Credit Cash 12,000 Common Stock 12,000 2) Record the sale of 1,000 shares at $50 per share (=$50,000) Debit Credit Cast 50.000 Common Stock 50,000 3) Record the sale of 1,000 shares at $100 per share [=$100,000) Debit Credit Cash 100.000 Common Stock 100,000 Assets Liabilities Equity Revenue Expense Bash Agets Payable Common Stock Sales Revenue Last Of Goods Sold 12,000 12,000 50,000 50,000 ##### 100,00 0 Accts Receivable Wages Payable Retained Earnings Wages Expense Inventory LIT Note Payable Dividends Rent Expense Capital Asset Income Summary Deprec Expense Acc Deprice No Par T Par T

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

Step: 3

blur-text-image

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

Forensic And Investigative Accounting

Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton

10th Edition

0808056301, 9780808056300

More Books

Students also viewed these Accounting questions

Question

What is a red flag with respect to financial statement analysis?

Answered: 1 week ago