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following is adapted from Shake Shack's financial statements for the quarter ended June 26. 2019. Dollars are reported in millions. Assume that the following events
following is adapted from Shake Shack's financial statements for the quarter ended June 26. 2019. Dollars are reported in millions. Assume that the following events occurred in the following quarter, which ended September 26, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. Summarize the journal entry effects from part 3 using T-accounts. (Enter your answers In mllllons (l.e., 10,000,000 should be entered as 10).) following is adapted from Shake Shack's financial statements for the quarter ended June 26. 2019. Dollars are reported in millions. Assume that the following events occurred in the following quarter, which ended September 26, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. Summarize the journal entry effects from part 3 using T-accounts. (Enter your answers In mllllons (l.e., 10,000,000 should be entered as 10).)
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