Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 18 Completion Activity PART THREE-ANALYZING TRANSACTIONS RECORDED IN JOURNALS Directions: In Answers Column I, print the abbreviation for the journal in which each transaction
Chapter 18 Completion Activity PART THREE-ANALYZING TRANSACTIONS RECORDED IN JOURNALS Directions: In Answers Column I, print the abbreviation for the journal in which each transaction is to be recorded. In Answers Columns 2 and 3, enter the letters identifying the accounts to be debited and credited for each transaction. GJ-General journal; CPJ-Cash payments journal; CRJ-Cash receipts journal Answers 1 2 3 Account Titles Transactions Journal Debit Credit A. Accounts Payable 1-2-3. Drew cash on a line of credit. 1. 2. 3. B. Bonds Payable 4-5-6. Signed a note to Stark Company for an extension of time on its account payable. 4. 5. 6. C. Capital Stock-Common D. Capital Stock-Preferred E. Cash F. Interest Expense G. Line of Credit H. Long-Term Notes Payable 7-8-9. Paid cash for the maturity value of a note. 7. 8. 9. 10-11-12. Signed a bank note. 10. 11. 12. 13-14-15. Paid cash for monthly loan payment. 13. 14. 15. 16-17-18. Issued bonds. 16. 17. 18. 19-20-21. Paid cash for interest on bonds. 19. 20. 21. 22-23-24. Sold common stock at par value. 22. 23. 24. I. Paid-in Capital in Excess of Par 25-26-27. Sold common stock at above its par value. 25. 26. 27. -Common J. Accounts Payable/Stark Company 28-29-30. Sold preferred stock at par value. 28. 29. 30. Save Submit
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