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help please!! Willow Creek Nursery, with an authorization of 75,000 shares of neeferred stock and 200,000 shares of common stock completed several transactions involving its

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Willow Creek Nursery, with an authorization of 75,000 shares of neeferred stock and 200,000 shares of common stock completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows: Willow Creek Nursery UNADJUSTED TRIAL BALANCE October 1, 20- ACCOUNT TITLE DEBIT CREDIT 1 Cash 4.768.000.00 2 Land 319.000.00 2.029.000.00 > Buildings 2.560,000.00 Preferred 15 Stock 580 par 288.000.00 4470.000.00 Paid-in Capital in Excess of Par-Preferred Stock . Common Stock 550 par 7 Paid-In Capital in Excess of Par-Common Stock 298.000.00 Previous Next 1130 PM Willow Creek Nursery UNADJUSTED TRIAL BALANCE October 1, 20- ACCOUNT TITLE DEBIT CREDIT Cash 4.768,000.00 2 Land 819,000.00 2,029,000.00 2,560,000.00 288,000.00 3 Buildings + Preferred 1% Stock 580 par $ Paid-In Capital in Excess of Par-Preferred Stock 6 Common Stock $30 par + Paid-In Capital in Excess of Par-Common Stock 4,470,000.00 298.000.00 7.616,000.00 7,616,000.00 # Totals DEUT 1 Cash 4768.000.00 2 Land 819,000.00 * Buildings Preferred 1% Stock. 580 par 2,029,000.00 2.560,000.00 288.000,00 Paid-In Capital in Excess of Par-Preferred Stock Common Stock 550 par Paid In Capital in Excess of Par Common Stock # Totals 4.470,000.00 298.000.00 7616,000.00 7.616,000.00 All shares within each class of stock were sold at the same price. The preterred stock was issued in exchange fr trio land and buildings Journalize the two entries to record the transactions summarized in the tal balance. Refer to the Chart of Accounts for exact wording of account tot Previous Next ck My Work 4 more Check My Work uses remaining Chart of Accounts CHART OF ACCOUNTS Willow Creek Nursery General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue EXPENSES 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 191 Buildings 192 Accumulated Depreciation Buildings 535 Insurance Expense LIABILITIES 191 Buildings 192 Accumulated Depreciation Buildings LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 561 Depreciation Expense-Buildings 590 Miscellaneous Expense 710 Interest Expense EQUITY 311 Common Stock 312 Paid-in Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 710 Interest Expense 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-in Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journalize the two entries to record the transactions summarized in the trial balance. Refer to the Chart of Accounts for exact wording of accountines JOURNAL ACCOUNTING EQUATO DATE DESCRIPTION POST HER DET CHET ASSETS AUTO 1 Previous Next 11 PM

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