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complete journal entries, balance sheet, debt to assets ratio Bender industres, reported the following account balances on Janvary 1 The company entered into the following
complete journal entries, balance sheet, debt to assets ratio
Bender industres, reported the following account balances on Janvary 1 The company entered into the following transactions duning the year Johuary 15 issued 22, 000 shares of 51 par comon stock for 564,000 cash. January 31 collected 33,600 fron custoners on account. February is Reacguired 3,340 shares of 51 par comon stock inte treasury for 536,740 cash. Harch 15 Reissued 2,340 shares of treasury stock for 527,740 cash. August is Reissued cae shares of treasury stock for 54,600 cash. septenber 15 peclared (but did not yet pay) a 51 cash dividend on tach outstandine share of conoon stock. october 1 Issued 160 , 19-year, s1,150 bonds, at a evoted bend price of 101. october a wrote off a 51 , seo balance due from a custoner who wert barkrupt. December 29 Recorded 5264,600 of service revenue, all of which ias collected in cash. Deceaber Ja patd 1234,000 cash for this year's weges through oecenber 31 . (Ignore gayroll taxes and payroll deductions.) Decenber 31 calcolated $10,609 of depreciation for the year to be recorded. (Ignore accrwal adjustnents for interest and incone texes.) Prepare the journal entries to record each transaction. Review the accounts as shown in the General Ledger and Tral Baiance tabs. (Do not round intermediate calculations. If no entry is required far s transaction/event, select " No journal entry required" in the first account field.) Journal entry worksheet 234567813> Issued 22,000 shares of $1 por common stock for $84,000 cosh, Record the transaction. Fictel Ertes debies belare traditu. Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enteb adjusted net income was $20,000. Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 2 decimal places.) Step by Step Solution
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