Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please record these transactions to the general ledger. thank you for your help. Nov. 1, 2021 Nov. 3, 2021 Nov. 5, 2021 Nov. 7, 2021

please record these transactions to the general ledger. thank you for your help.
image text in transcribed
Nov. 1, 2021 Nov. 3, 2021 Nov. 5, 2021 Nov. 7, 2021 Nov. 9, 2021 Nov. 15, 2021 Issued additional common stock to new investors. These investors paid $15 per share for 4,000 shares of $10 par value common stock Paid $25,000 for a small plot of land where the business can relocate when its current lease is up. Declared a cash dividend of $0.05 per share. The date of record is Nov. 15th, and the dividend will be paid on Nov. 25th. (Dividends are paid on all shares outstanding, both the original 5,000 shares and those issued on Nov. 1") Paid $3,700 to our dog treat supplier to pay our account off in full and to purchase additional inventory of 4,000 dog treats for $2,500. Purchased additional supplies for $1,600 on account. Date of record for the dividend. Shareholders are identified along with the number of shares they own so that the appropriate dividends can be paid. Held a dog training class and provided $3,025 of services to customers. $2,225 was received in cash on the day of the class. The remaining $800 was provided to a local shelter on account Sold 3,300 dog treats to customers for $3,300 cash. The Puppy Playground uses the perpetual inventory system, and assigns inventory costs using the First-In, First-Out (FIFO) method. (The inventory carried over from Oct. was 500 units at a total cost of $300.) Paid the cash dividend declared on the 5th to the shareholders. Nov. 17, 2021 Nov. 21, 2021 Nov. 25, 2021 Nov. 29, 2021 Paid $30,375 cash to pay off the Note Payable related to the transaction on Sept. 7th in full. (This includes the principal, interest accrued in prior months, and the interest from the current month.)

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_2

Step: 3

blur-text-image_3

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

Accounting For Sustainability

Authors: Gunnar Rimmel

1st Edition

0367478927, 9780367478926

More Books

Students also viewed these Accounting questions

Question

1. Arouse curiosity with questions such as What would happen if?

Answered: 1 week ago