Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with accounting assignment (Excel file cant be changed) a. TRANSACTIONS-ANALYZE EACH ONE AND INSERT THE ENTRIES 1 Lavon Corporation issued 100,000 shares of

Need help with accounting assignment
(Excel file cant be changed) image text in transcribed
image text in transcribed
a. TRANSACTIONS-ANALYZE EACH ONE AND INSERT THE ENTRIES 1 Lavon Corporation issued 100,000 shares of $1.00 par common stock at par, receiving cash. 2 The company purchased equipment costing $15,000, paying cash 3 Supplies were purchased for $4,000, on account. 4 The company paid rent in the amount of $2,500. 5 Advertising was purchased on account, $3,000. 6 Salaries were paid to employees in cash, $12,000. 7 The company provided $18,000 of services; $6,000 was received in cash and the rest will be received in 30 days. 8 The company paid $3,500 cash on account. 9 The company received $5,000 cash from customers, on account. 10 Depreciation was recorded in the amount of $1,500. (Adj.) 11 Supplies were used up in the amount of $1,000. (Adj.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computer Fraud Casebook The Bytes That Bite

Authors: Joseph T. Wells

1st Edition

0470278145, 978-0470278147

More Books

Students also viewed these Accounting questions

Question

a. Describe the encounter. What made it intercultural?

Answered: 1 week ago