record journal entries

An Thestored Cock with an investme OS100.00 Quiz Name Asume cash transaction in year XI unless otherwise noted. Prvate or toek w 1000mahou were sold Co borrowed $250,000 can by iting suyuar nete a stated interest rate of 10% per year to be compounded annually. The interest will be paid on or dich year itting next year and the principal will be paid on maturity Prepaid Two years aftem for 4,005 femmy for the current year. The north # Turchiated with caste office equipment for S36,000 supplies for 18.000 7 "Receivet 750.000 cash for coming services to be performed in the future for Started up a second line of consulting services Sold and received $200,000 in total for the year in consulting service and paid related mis experses of 550.000 This summarizes all revenues and expense of business 2. All'in cash. Prepaid $94.000 cash for a month insurance policy starting on 245 11 Bated $100.000 in cash from bank stated rate of interest is 10%. Principal and interest due 7/31/x2 Purensed $5,000 more of supplies on credit Prvided consulting services of $30,000 on credit to clients from the main inedine consulting service division hused 10,000 (with cashy of an investment in another company's (Pear Inc.) week Purchased $5,000 in bonds of Pear (or considered trading) 020 Collected S5.000 from client 1072) Delivered S150,000 for services delivered to Client ZA" on account 101 505 of the services for client X are performed. 12 Decided to sell second line of consulting business. Found a buyer for second line of consulting services. Sold the business in exchange for $40,000 worth of equipment which resulted in a gain of $40,000 as the second line had no assets or libilities 12/15 Paid down the payable (supplies) with a $1,000 cash payment. We received $100,000 cash from Client "ZA". 12/31 Counted supplies and determined that $5,000 of supplies were still on hand 1231 Total salaries paid in year equaled $35.000. Remaining salaries are to be paid on 1/2 The total amount of current year expense is $45,000. The amount unpaid related to this amount at year-end is $10,000. 12/31 Determined appropriate total depreciation is $10,000 12:31 Determined that the stock purchased on 10/I was now worth $16,000. However, the stock was not sold. Determined the bonds were worth 12,000. 1251 We declared and paid a dividend of S10,000 to our investor 12:31 We received cash of $2,000 in dividends from Pear Inc. We received $1,000 in interest from bonds Tax Rate is 219 (none of the tax is paid, but it is accrued as a liability) An Thestored Cock with an investme OS100.00 Quiz Name Asume cash transaction in year XI unless otherwise noted. Prvate or toek w 1000mahou were sold Co borrowed $250,000 can by iting suyuar nete a stated interest rate of 10% per year to be compounded annually. The interest will be paid on or dich year itting next year and the principal will be paid on maturity Prepaid Two years aftem for 4,005 femmy for the current year. The north # Turchiated with caste office equipment for S36,000 supplies for 18.000 7 "Receivet 750.000 cash for coming services to be performed in the future for Started up a second line of consulting services Sold and received $200,000 in total for the year in consulting service and paid related mis experses of 550.000 This summarizes all revenues and expense of business 2. All'in cash. Prepaid $94.000 cash for a month insurance policy starting on 245 11 Bated $100.000 in cash from bank stated rate of interest is 10%. Principal and interest due 7/31/x2 Purensed $5,000 more of supplies on credit Prvided consulting services of $30,000 on credit to clients from the main inedine consulting service division hused 10,000 (with cashy of an investment in another company's (Pear Inc.) week Purchased $5,000 in bonds of Pear (or considered trading) 020 Collected S5.000 from client 1072) Delivered S150,000 for services delivered to Client ZA" on account 101 505 of the services for client X are performed. 12 Decided to sell second line of consulting business. Found a buyer for second line of consulting services. Sold the business in exchange for $40,000 worth of equipment which resulted in a gain of $40,000 as the second line had no assets or libilities 12/15 Paid down the payable (supplies) with a $1,000 cash payment. We received $100,000 cash from Client "ZA". 12/31 Counted supplies and determined that $5,000 of supplies were still on hand 1231 Total salaries paid in year equaled $35.000. Remaining salaries are to be paid on 1/2 The total amount of current year expense is $45,000. The amount unpaid related to this amount at year-end is $10,000. 12/31 Determined appropriate total depreciation is $10,000 12:31 Determined that the stock purchased on 10/I was now worth $16,000. However, the stock was not sold. Determined the bonds were worth 12,000. 1251 We declared and paid a dividend of S10,000 to our investor 12:31 We received cash of $2,000 in dividends from Pear Inc. We received $1,000 in interest from bonds Tax Rate is 219 (none of the tax is paid, but it is accrued as a liability)