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Complete this question by entering your answers in the tabs below. Using the data from the T - accounts given, complete the accounting equation on
Complete this question by entering your answers in the tabs below. Using the data from the Taccounts given, complete the accounting equation on January of the current year. Assets Stockholders' Equity Prepare journal entries for transactions a through e for the current year. Note: If no entry is required for a transactionevent select No journal entry required" in the first acco a Borrowed $ from a local bank, signing a note due in three years. b Sold $ of the investments for $ cash. c Sold onehalf of the property and equipment for $ in cash. d Declared $ in cash dividends to stockholders. e Paid dividends to stockholders. Journal entry worksheet Borrowed $ from a local bank, signing a note due in three years. Note: Enter debits before credits. Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. On January the start of the current year, Higgins' Taccount balances were as follows: Assets: Liabilities: Stockholders' Equity: Using the data from the Taccounts given, complete the accounting equation on January of the current year. Prepare journal entries for transactions a through e for the current year. a Borrowed $ from a local bank, signing a note due in three years. b Sold $ of the investments for $ cash. c Sold onehalf of the property and equipment for $ in cash. d Declared $ in cash dividends to stockholders. e Paid dividends to stockholders. Enter the effects of the transactions in Requirement in the Taccounts. Prepare a trial balance at December Only include those accounts with a balance at year end. Prepare a classified balance sheet at December of the current year. Calculate the current ratio at December of the current year.
Complete this question by entering your answers in the tabs below.
Using the data from the Taccounts given, complete the accounting equation on January of the current year.
Assets
Stockholders' Equity Prepare journal entries for transactions a through e for the current year.
Note: If no entry is required for a transactionevent select No journal entry required" in the first acco
a Borrowed $ from a local bank, signing a note due in three years.
b Sold $ of the investments for $ cash.
c Sold onehalf of the property and equipment for $ in cash.
d Declared $ in cash dividends to stockholders.
e Paid dividends to stockholders.
Journal entry worksheet
Borrowed $ from a local bank, signing a note due in three years.
Note: Enter debits before credits. Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will
require borrowing funds from banks. On January the start of the current year, Higgins' Taccount balances were as follows:
Assets:
Liabilities:
Stockholders' Equity:
Using the data from the Taccounts given, complete the accounting equation on January of the current year.
Prepare journal entries for transactions a through e for the current year.
a Borrowed $ from a local bank, signing a note due in three years.
b Sold $ of the investments for $ cash.
c Sold onehalf of the property and equipment for $ in cash.
d Declared $ in cash dividends to stockholders.
e Paid dividends to stockholders.
Enter the effects of the transactions in Requirement in the Taccounts.
Prepare a trial balance at December Only include those accounts with a balance at year end.
Prepare a classified balance sheet at December of the current year.
Calculate the current ratio at December of the current year.
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