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just need last 2 journal entries. also would help if you could take a look at my balance sheet and debt to asset ratio to
just need last 2 journal entries. also would help if you could take a look at my balance sheet and debt to asset ratio to see if it is correct, thanks.
C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) [LO 4-2, 4.5, 8-2, 9-3, 10-3, 11-2, 11-3] National Companies, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 20,000 shares of $1 par comon stock for $80,000 cash. January 31 collected $3,000 tron cuatoeers on aecount. February 15 Reacquired 3,300 share of $1 par coenon stock into treasury for $36,300 eanh. March 25 Reissued 2,300 shares of treasury atock for $27,300 cash. Nugust 15 Reissued 600 mharen of treasury stock for $4,600cash. september 15 Declared (but did not yot pay) a $1 cash dividend on each outntanding share of conwon atock. october 1 Issued 100, 10-year, $1,160 bonds, at a quotod bond price of 101 . October 3 wrote off a $1,500 balance doe from a custoser who went bankrupt. Decenber 29 recorded $260,000 of service revenue, a11 of which was collected in cash. Deceaber 30 paid $230,000 cash for this year's wages through Decenber 31. (Ignore payro11 taxes and payro11 deductions.) Decenber 31 Caleulated $10,000 of depreciation for the year to be recorded. (Igaore accrual adjuatmonts for interest and incoee taxes.) Prepare a closing journal entry for the income statement accounts, assuming the events on December 29-31 were the only transactions to affect income statement accounts. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Prepare the closing entry for Dividends. Record the transaction. Note: Enter debits before credits. 11 Home Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 2 de places.) Step by Step Solution
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