Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help , i think im setting this journal entry up all wrong Instructions Chart of Accounts Journal structions Pro-Builders Corporation has 1.500.000 shares

image text in transcribedi need help , i think im setting this journal entry up all wrong
image text in transcribed
image text in transcribed
image text in transcribed
Instructions Chart of Accounts Journal structions Pro-Builders Corporation has 1.500.000 shares of $5 par common stock outstanding. On September 2, Pro-Builders Corporunon dectared as shocked to be made stockholders of record on October 3. The market price of the stock was 536 per share on September 2 Journalize the entries required on September 2 October 3, and November 30. I no entry is required simply slip to the next transaction Refer to the Charter account titles Journal All transactions on this page must be entered (except for postrofis)) before you will receive Check My Work feedback JOURNAL DATE Score 51/63 ALTICOLATION ASSETS POSTRES CREDIT DESCRIPTION Retained Earnings Stock Dividends Distributable DEBAT 1.620,000.00 225.000.00 Oct 3 1,395.000.00 Nov, 50 Stock Dividends Distributable 225,000.00 Common Stock 225,000.00 4711 structions Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 226 Interest Payable 231 Cash Dividends Payable 231 Cash Dividenas Payable 236 Stock Dividends Distributable 1590 Miscellaneous Expense 710 Interest Expense 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

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

Financial Modeling

Authors: Simon Benninga

3rd Edition

0262026287, 9780262026284

More Books

Students also viewed these Accounting questions

Question

1 What are the three key facets of HRP?

Answered: 1 week ago