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journal entry for a,b,c&d The following information is available on January 31, 2022. a. Owed $8,100 for utilities used in January. b. $7,000 in supplies
journal entry for a,b,c&d
The following information is available on January 31, 2022. a. Owed $8,100 for utilities used in January. b. $7,000 in supplies were on hand on January 31. c. The straight-line method is used to compute depreciation on equipment. The estimated service life is three years; the residual value is estimated to be $11,900, On January 31, one month of depreciation is recorded. d. Owed income taxes of $3,000 at the end of January. General On January 1, 2022, GoodDog! Academy reported the following account balances: Accounts Credit Cash Debit $ 44,600 Accounts Receivable Supplies 48,300 9,400 Equipment 83,000 Accumulated Depreciation Accounts Payable $ 10,900 16,500 19,000 Common Stock, $1 par value Additional Paid-in Capital Retained Earnings 99,000 39,900 Totals $185,300 $185,300 During January 2022, GoodDog! reported the following transactions: January 2 Issued 2,200 shares of $1 par value common stock for $44,000. January 9 Provided services to customers on account, $19,700. January 10 Purchased supplies on account, $6,800. January 12 Purchased 1,000 shares of treasury stock for $22 per share. January 15 Paid $18,400 on account. January 21 Provided services to customers for cash, $51,000. January 22 Received $18,500 from customers on account. January 29 Declared dividend of $0.30 per share to all shares outstanding on January 29. Dividend will be paid on February 15. At the beginning of the year, the company had 19,000 shares outstanding. January 30 Reissued 700 shares of treasury stock for $24 per share. January 31 Paid $43,900 for January salaries. The following information is available on January 31, 2022. a. Owed $8,100 for utilities used in January. b. $7,000 in supplies were on hand on January 31, c. The straight-line method is used to compute depreciation on equipment. The estimated service life is three years; the residual value is estimated to be $11.900. On January 31, one month of depreciation is recorded. d. Owed income taxes of $3,000 at the end of January Step by Step Solution
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