{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T21:08:36-04:00", "answer_date": "2024-05-27 21:08:36", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1801193", "url": "\/study-help\/questions\/freitas-corporation-was-organized-early-in-2024-the-following-expenditures-1801193", "question_creation_date_js": "2024-05-27T21:08:36-04:00", "question_creation_date": "May 27, 2024 09:08 PM", "meta_title": "[Solved] Freitas Corporation was organized early i | SolutionInn", "meta_description": "Answer of - Freitas Corporation was organized early in 2024. The following expenditures were made during the first few months of t | SolutionInn", "meta_keywords": "freitas,corporation,organized,early,2024,expenditures,made,first,months,year,attorneys,fees", "question_title_h1": " Freitas Corporation was organized early in 2024. The following expenditures were made during the first few months of the year Attorneys' fees in connection", "question_title": " Freitas Corporation was organized early in 2024. The following expenditures were", "question_title_for_js_snippet": "Freitas Corporation was organized early in 2024 The following expenditures were made during the first few months of the year Attorneys' fees in connection with the organization of the corporation State filing fees and other incorporation costs Purchase of a patent Legal and other fees for transfer of the patent Purchase of equipment Preopening salaries and employee training Total Required Prepare a summary journal entry to record the $121,500 in cash expenditures $ 14,600 5,900 22,200 4,100 32,200 42,500 $121,500 Note If no entry is required for a transaction event, select No journal entry required in the first account field View transaction list Journal entry worksheet Record the $121,500 in cash expenditures Note Enter debits before credits Transaction General Journal Debit Credit", "question_description": "\"image", "transcribed_text": "Freitas Corporation was organized early in 2024. The following expenditures were made during the first few months of the year Attorneys' fees in connection with the organization of the corporation State filing fees and other incorporation costs Purchase of a patent Legal and other fees for transfer of the patent Purchase of equipment Preopening salaries and employee training Total Required: Prepare a summary journal entry to record the $121,500 in cash expenditures. $ 14,600 5,900 22,200 4,100. 32,200 42,500 $121,500 Note: If no entry is required for a transaction\/event, select \"No journal entry required\" in the first account field. View transaction list Journal entry worksheet < Record the $121,500 in cash expenditures. Note: Enter debits before credits. Transaction General Journal Debit Credit", "related_book": { "title": "Survey of Accounting", "isbn": "9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555", "edition": "2nd edition", "authors": "Edmonds, old, Mcnair, Tsay", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/76.jpg", "uri": "\/textbooks\/survey-of-accounting-2nd-edition-76", "see_more_uri": "" }, "free_related_book": { "isbn": "1780491727", "uri": "\/textbooks\/internal-coaching-the-inside-story-1st-edition-978-1780491721-173213", "name": "Internal Coaching The Inside Story", "edition": "1st Edition" }, "question_posted": "2024-05-27 21:08:36", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions-and-answers\/a-how-much-would-you-have-to-invest-at-6", "description": "a) How much would you have to invest at 6% p.a. on January 1, 2004, in order to accumulate $1791 on January 1, 2010. b) What is the present worth on January 1, 2003 of $1263 on January 1, 2010, if...", "stars": 3 }, { "url": "\/while-examining-cash-receipts-information-the-accounting-department-determined-the-following", "description": "While examining cash receipts information, the accounting department determined the following information: opening cash balance $180, cash on hand $1,125.74, and cash sales per register tape $950.83....", "stars": 3 }, { "url": "\/study-help\/statistical-sampling-to-auditing\/64-true-or-false-if-we-reject-ha-using-or-1933598", "description": "64. 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