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Nike, Inc., with headquarters in Beaverton, Oregon, is one of the worlds leading manufacturers of athletic shoes and sports apparel. The following activities occurred during
Nike, Inc., with headquarters in Beaverton, Oregon, is one of the worlds leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value.
- Purchased additional buildings for $303 and equipment for $1,202; paid $432 in cash and signed a long-term note for the rest.
- Issued 10 shares of $1 par value common stock for $695 cash.
- Declared $1,159 in dividends to be paid in the following year.
- Purchased additional short-term investments for $5,928 cash.
- Sold $2,423 in short-term investments for $2,423 in cash.
- Borrowed $30,000 cash from a bank, signing a note due in three years.
Requirement:
For each of the events (a) through (f), prepare Journal Entries on a General Journal, checking that debits equal credits for each JE.
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