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i need to put what type account its from and an explanation here are the type of accounts a. b. C. d. e. f. g.
i need to put what type account its from and an explanation
here are the type of accounts
a. b. C. d. e. f. g. h. i. The company issued common shares for $137,000. The company borrowed $79,000 from a bank. (Use Bank Loan Payable) Inventory costing $50,000 was purchased on account. Rented a retail space and paid a damage deposit of $9,000. Received a bill for advertising costs of $4,100 related to the grand opening. Paid employees wages of $15,400. Inventory costing $37,400 was sold for $70,100, half for cash and half on account. (Hint: Two journal entries are required.) A payment of $41,500 was made on accounts payable. Accounts receivable totalling $22,700 were collected. New equipment costing $120,000 was purchased for cash. The company paid $17,700 on its bank loan, which included $9,700 of interest. The company paid $8,600 for the monthly rent on its retail location. The company's board declared and paid dividends of $11,700. Paid the advertising bill related to the grand opening (see transaction (e)). j. k. 1. m. n. Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Depreciation-Trucks Accumulated Depreciation-Vehicles Advertising Expense Buildings Cash Common Shares Cost of Goods Sold Depreciation Expense Dividends Payable Equipment Income Tax Payable Interest Expense Interest Payable Inventory Land Miscellaneous Expense Notes Payable Operating Expense Other Expenses Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Selling and Administrative Expenses Supplies Expense Wages Payable Wages Expense Advances to Employees Bank Loan Payable Deposits Dividend Revenue Dividends Declared Income Tax Expense Income Summary Insurance Expense Interest Revenue Interest Receivable Licence Expense Long-Term Investments Mortgage Payable No Entry Notes Receivable Supplies Prepaid Licence Prepaid Property Tax Property Tax Expense Repair and Maintenance Expense Sales Revenue Service Revenue Short-Term Investments Telephone Expense Unearned Revenue Utilities Expense VehiclesStep by Step Solution
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