instructions

charts of accounts

general journal

Instruction On Apni 2 a corporation purchased for cash 7.000 shares of its own 510 por common stock $20 a share. I 4,000 of the treasury shares at a share on June 10 The manng 3.000 shares were sold on November 10 for 524 a share Required: Journage the entries to record the charawy stock is recorded at cost D. Journalize the entries to record the sale of the stock Refer to the Chart of Accounts for exact wording of account les CHART OF ACCOUNTS General Ledger REVENUE ASSETS 410 Sales 110 Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable EXPENSES 510 Cost of Goods Sold 141 Inventory 145 Supplies 151 Prepaid Insurance 181 Land 191 Buildings 192 Accumulated Depreciation-Building 193 Equipment 194 Accumulated Depreciation Equipment 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Rent Expense 534 Insurance Expense 535 Supplies Expense 536 Organizational Expenses 561 Depreciation Expense-Building LIABILITIES t Of Accounts LIABILITIES 561 Depreciation Expense-Building 562 Depreciation Expense-Equipment 210 Accounts Payable 590 Miscellaneous Expense 710 Interest Expense 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Preferred Stock 312 Paid-In Capital in Excess of Par-Preferred Stock 321 Common Stock 322 Paid-In Capital in Excess of Par-Common Stock 323 Paid-In Capital in Excess of Stated Value-Common Stock 331 Treasury Stock 332 Paid In Capital from Sale of Treasury Stock 340 Retained Earnings EQUITY 311 Preferred Stock 312 Paid-In Capital in Excess of Par-Preferred Stock 321 Common Stock 322 Paid-In Capital in Excess of Par-Common Stock 323 Paid-In Capital in Excess of Stated Value-Common Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends General Journal a Journakze the entries to record the purchase (breasury stock recorded at coat on April 2. Refer the Chart Accounts for exact wording of accountries JOURNAL ACCOLTELLT DATE DEBORTION POSTER 1 b. Journake the entries to record the sale of the stock on June 10 and November to Refer to the Chart of Accounts for exact wording of accounts PINGE 1 JOURNAL OR ACCOUNT ASSETS TOUTE POSER DATE DESTION