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please look at the parts that are inaccurate Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200
please look at the parts that are inaccurate
Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200 locations worldwide. The following is adapted from Shake Shack's financial statements for the quarter ended September 26, 2019. Dollars are reported in millions. 1.55/5 points awarded Accounts Payable Accounts Receivable Cash Common Stock Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments $38 14 29 255 544 267 2 519 40 6 46 36 03:53:35 Scored Required: Assume that the following events occurred in the following quarter, which ended September 30, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. e. Conducted negotiations to purchase a farm, which is expected to cost $15. 1 Complete this question by entering your answers in the tabs below. 1.55/5 points awarded Requirement General Journal General Ledger Trial Balance Balance Sheet Current Ratio X 03:53:26 Prepare the journal entries to record the transactions (a) through (e). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Scored No General Journal Debit Credit Transaction September 30 1 267 X Intangible Assets Cash 10 2 September 30 255 X Common Stock Cash X x 50 3 September 30 544 X Equipment Cash Accounts Payable OO 50 X 70 4 September 30 X Accounts Payable Cash O 38 9 5 e. No Journal Entry Required No Journal Entry Required
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