instructions

charts of accounts

general journal

On May 10, a company owed to cash 1,200 stores of now comica slok (wear a stated setup of $2) at $14, and on May 15 tissued for cash 2,000 shares at 515, par contenug stock at 358 Required: Journals the entries for May to and 15, assuming to the common stock as to be created with the states e Refer to die Chart of Accounts for exact wording of accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue 131 Notes Receivable EXPENSES 132 Interest Receivable 510 Cost of Goods Sold 141 Inventory 515 Credit Card Expense 145 Supplies 520 Salaries Expense 151 Prepaid Insurance 531 Advertising Expense 181 Land 532 Delivery Expense 191 Buildings 192 Accumulated Depreciation-Building 193 Equipment 194 Accumulated Depreciation Equipment 533 Rent Expense 534 Insurance Expense LIABILITIES 535 Supplies Expense 536 Organizational Expenses 561 Depreciation Expense-Building 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 210 Accounts Payable 221 Notes Payable of Accounts 710 Interest Expense 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 351 Cash Dividends 352 Stock Dividends Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value Refer to the Chart of Accounts for exact wording of accountides PAGE 1 JOURNAL DATE DESCRIPTION POST REK DEBIT ACCOUNTING FOLATION ASSETS LIABILITIES EQUITY CREDIT 1 2 3