Question
Following are the transactions of JonesSpa Corporation, for the month of January. Borrowed $23,500 from a local bank; the loan is due in 9 months.
Following are the transactions of JonesSpa Corporation, for the month of January.
Borrowed $23,500 from a local bank; the loan is due in 9 months.
Lent $7,400 to an affiliate; accepted a note due in one year.
Sold to investors 110 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash.
Purchased $21,000 of equipment, paying $5,100 cash and signing a note for the rest due in one year.
Declared $4,200 in cash dividends to stockholders, to be paid in February.
For each of the above transactions, indicate the accounts and amounts. A sample is provided.
Note: Enter decreases to an element of the balance sheet with a minus sign.
Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $23,500 from a local bank; the loan is due in 9 months. b. Lent $7,400 to an affiliate; accepted a note due in one year. c. Sold to investors 110 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash. d. Purchased $21,000 of equipment, paying $5,100 cash and signing a note for the rest due in one year. e. Declared $4,200 in cash dividends to stockholders, to be paid in February. For each of the above transactions, indicate the accounts and amounts. A sample is provided. Note: Enter decreases to an element of the balance sheet with a minus sign
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