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Please make journal entrys for these questions Ive already done them but am not sure if I did them correctly 6. Income Taxes A. The
Please make journal entrys for these questions Ive already done them but am not sure if I did them correctly
6. Income Taxes A. The company paid its 20Y8 income taxes in March of 2049. B. The company has a 30% income tax rate for both 2048 and 2049. 7. Common Stock A. Dividends of $2,200 were declared and paid during 2049. B. New common stock was issued for $15,000 during 2049. $18,000 5,000 (400) ASSETS Cash Accounts Receivable Less: Allowance for Doubtful Accounts Net Accounts Receivable Prepaid Rent Inventory Property, Plant, and Equipment Less: Accumulated Depreciation Net Property, Plant, and Equipment Total Assets LIABILITIES + OWNER'S EQUITY 4,600 1,400 2,000 52,100 (22,600) 29,500 $55,500 LIABILITIES + OWNER'S EQUITY Accounts Payable Wages Payable Interest Payable Income Taxes Payable Notes Payable Total Liabilities $3,500 165 45 850 3,000 7,560 Common Stock Retained Earnings Total Owner's Equity Total Liabilities + Owner's Equity 21,000 26,940 47,940 $55,500Step by Step Solution
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