Journal entry

a. On 1/01, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $8,500 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c. Payroll withholdings and employer contributions for December are remitted on 1/03 d. OPC declares a $0.50 cash dividend on each share of common stock on 1/04, to be paid on 1/10. e A $960 customer account is written off as uncollectible on 1/05. f. On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the state. g. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h. On 1/08, OPC issued 300 shares of treasury stock for $2.400. 1. Collections from customers on account totaling $10,305, are recorded on 1/09. J. On 1/10, OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share K OPC purchases on account and receives 70 units of inventory on 1/11 for $4,270. 1. The equipment purchased last year for $27.400 is sold on 1/15 for $25,800 cash Record depreciation for the first half of January prior to recording the equipment disposal. m. Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes. n. Having sold the equipment, OPC pays off the note payable in full on 1/17 The amount paid is $22,791 which includes interest accrued in December and an additional $91 interest through January 17 o On 1/27. OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted p. A portion of the advance order from December (25 units) is delivered on 129. No sales tax is collected on this transaction because the customer is a US governmental organization that is exempt from sales tax, 9. To obtain funds for purchasing new equipment OPC issued bonds on 1/30 with a total face value of $92,000, stated Interest rate of 5 percent, annual compounding, and six-year maturity date OPC received $83.230 from the bond January Transactions a. On 101, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $8.500 cash it is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c Payroll withholdings and employer contributions for December are remitted on 1/03 d. OPC declares a $0.50 cash dividend on each share of common stock on 1804. to be paid on 1/10 e. A $960 customer account is written off as uncollectible on 1/05. f. On 1/06, recorded sales of 175 units of Inventory on account Sales tax is charged but not yet collected or remitted to the state. o Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h On 1/08, OPC issued 300 shares of treasury stock for $2,400 Collections from customers on account totaling $10,305, are recorded on 1/09 J.On 1/10 OPC distributes the $050 cash dividend declared on January 4. The company's stock price is currently $5 per share k OPC purchases on account and receives 70 units of inventory on 1/11 for $4,270, 1 The equipment purchased last year for $27400 is sold on 1/16 for $25.800 cash Record depreciation for the first half of January prior to recording the equipment disposal m Payroll for January 115 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes n Having sold the equipment OPC pays off the note payable in full on 1/17 The amount paid is $22.791, which includes interest accrued in December and an additional 591 interest through January 17 o On 127. OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted. P A portion of the advance order from December (25 units) is delivered on 1/29. No sales taxis.collected on this transaction because the customer is a US governmental organization that is exempt from sales tax a. On 1/01, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $8,500 cash. It is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c. Payroll withholdings and employer contributions for December are remitted on 1/03 d. OPC declares a $0.50 cash dividend on each share of common stock on 1/04, to be paid on 1/10. e A $960 customer account is written off as uncollectible on 1/05. f. On 1/06, recorded sales of 175 units of inventory on account. Sales tax is charged but not yet collected or remitted to the state. g. Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h. On 1/08, OPC issued 300 shares of treasury stock for $2.400. 1. Collections from customers on account totaling $10,305, are recorded on 1/09. J. On 1/10, OPC distributes the $0.50 cash dividend declared on January 4. The company's stock price is currently $5 per share K OPC purchases on account and receives 70 units of inventory on 1/11 for $4,270. 1. The equipment purchased last year for $27.400 is sold on 1/15 for $25,800 cash Record depreciation for the first half of January prior to recording the equipment disposal. m. Payroll for January 1-15 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes. n. Having sold the equipment, OPC pays off the note payable in full on 1/17 The amount paid is $22,791 which includes interest accrued in December and an additional $91 interest through January 17 o On 1/27. OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted p. A portion of the advance order from December (25 units) is delivered on 129. No sales tax is collected on this transaction because the customer is a US governmental organization that is exempt from sales tax, 9. To obtain funds for purchasing new equipment OPC issued bonds on 1/30 with a total face value of $92,000, stated Interest rate of 5 percent, annual compounding, and six-year maturity date OPC received $83.230 from the bond January Transactions a. On 101, OPC paid employees' salaries and wages that were previously accrued on December 31 b. A truck is purchased on 1/02 for $8.500 cash it is estimated this vehicle will be used for 50,000 miles, after which it will have no residual value. c Payroll withholdings and employer contributions for December are remitted on 1/03 d. OPC declares a $0.50 cash dividend on each share of common stock on 1804. to be paid on 1/10 e. A $960 customer account is written off as uncollectible on 1/05. f. On 1/06, recorded sales of 175 units of Inventory on account Sales tax is charged but not yet collected or remitted to the state. o Sales taxes of $500 that had been collected and recorded in December are paid to the state on 1/07 h On 1/08, OPC issued 300 shares of treasury stock for $2,400 Collections from customers on account totaling $10,305, are recorded on 1/09 J.On 1/10 OPC distributes the $050 cash dividend declared on January 4. The company's stock price is currently $5 per share k OPC purchases on account and receives 70 units of inventory on 1/11 for $4,270, 1 The equipment purchased last year for $27400 is sold on 1/16 for $25.800 cash Record depreciation for the first half of January prior to recording the equipment disposal m Payroll for January 115 is recorded and paid on 1/16. Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes n Having sold the equipment OPC pays off the note payable in full on 1/17 The amount paid is $22.791, which includes interest accrued in December and an additional 591 interest through January 17 o On 127. OPC records sales of 30 units of inventory on account Sales tax is charged but not yet collected or remitted. P A portion of the advance order from December (25 units) is delivered on 1/29. No sales taxis.collected on this transaction because the customer is a US governmental organization that is exempt from sales tax