Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi can someone send me journal entries for the following transactions? Accounting Cycle Project Files Example Transactions 1-10 Transaction 1 Date 1/1/2022 Description of Transaction

Hi can someone send me journal entries for the following transactions?
image text in transcribed
Accounting Cycle Project Files Example Transactions 1-10 Transaction 1 Date 1/1/2022 Description of Transaction - Orca Company... Sells $15,000 of Common Stock to shareholders for cash 2 1/1/2022 Signs a 4-month lease. Rent is $500 due the first week of each month and pays the rent for the month of January. 1/1/2022 Takes out a 5-year, $5,000 loan from MT Bank with 6% interest due monthly 4 1/1/2022 Purchases supplies worth $250 for cash 5 1/1/2022 Purchases equipment worth $3,000 for cash with 4 month useful life 1/2/2022 Purchases 100 units of inventory, on account, for $5,000 ($50 per unit) 6 1/4/2022 Provides services for $1,500 8 1/6/2022 Sells $10,000 of Common Stock to shareholders for cash 9 1/9/2022 Purchases 100 units of inventory, on account, for $5,000 ($50 per unit) 10 1/10/2022 Provides services for $3,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Selected Chapters For The University Of Oklahoma

Authors: Unknown Author

12th Edition

0077218256, 978-0077218256

More Books

Students also viewed these Accounting questions