Question
Prepare journal entries, as well as adjusted entries for transactions. With work shown especially for 6A-6B 5. Division 1 purchases 24 month insurance for $48,000
Prepare journal entries, as well as adjusted entries for transactions. With work shown especially for 6A-6B
5. Division 1 purchases 24 month insurance for $48,000 on 08/31
6. (A) Division 2 sold $50,000 of services for cash and had $80,000 of expenses paid in cash
6 (A) Division 2 was sold for cash of $10,000
6 (B) Division 2 is sold. Total net loss was $30,000, Gain on sale was $10,000
7. Division 1 Purchased Bonds for $50,000 cash that was worth $70,000 at year end
8. Division 1 Total Salary expense was $200,000
9. Issued 10,000 shares of common stock for $100,00 cash on 09/01
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