Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Select the appropriate journal entry for each transaction. Match all unused journal entries to Not Used - Match all unused journal entries to this item.

Select the appropriate journal entry for each transaction. Match all unused journal entries to "Not Used - Match all unused journal entries to this item". DEBIT=DR CREDIT=CR DR NOTES PAYABLE CR MACHINERY DR DIVIDEND PAYABLE CR CASH DR CASH CR BOND PAYABLE DR UNEARNED REVENUE CR CASH DR CASH CR ACCOUNTS PAYABLE DR CASH CR ACCOUNTS RECEIVABLE DR EQUIPMENT CR ACCUMULATED DEPRECIATION DR BAD DEBTS EXPENSE CR ALLOWANCE FOR BAD DEBTS DR REVENUE CR RETAINED EARNINGS DR CASH CR PREPAID INSURANCE DR SERVICE CHARGE EXPENSE CR CASH DR CASH CR INTEREST EXPENSE DR RETAINED EARNINGS CR EXPENSE DR ACCOUNTS PAYABLE CR CASH DR BOND PAYABLE CR CASH DR CASH CR DIVIDEND PAYABLE DR ALLOWANCE FOR BAD DEBTS CR BAD DEBTS EXPENSE DR ACCOUNTS RECEIVABLE CR CASH DR SERVICE REVENUE CR CASH DR DIVIDEND PAYABLE CR RETAINED EARNINGS DR MACHINERY CR NOTES PAYABLE DR CASH CR UTILITIES EXPENSE DR CASH CR SERVICE CHARGE EXPENSE DR CASH CR UNEARNED REVENUE DR COMMON STOCK CR BUILDING DR COMMON STOCK CR CASH DR DEPRECIATION EXPENSE CR ACCUMULATED DEPRECIATION DR INTEREST EXPENSE CR CASH DR UTILITIES EXPENSE CR CASH DR RETAINED EARNINGS CR REVENUE DR BUILDING CR COMMON STOCK DR ACCOUNTS PAYABLE CR INVENTORY DR ACCUMULATED DEPRECIATION CR EQUIPMENT DR RETAINED EARNINGS CR DIVIDEND PAYABLE DR CASH CR COMMON STOCK DR PREPAID INSURANCE CR CASH DR CASH CR SERVICE REVENUE DR EXPENSE CR RETAINED EARNINGS DR INVENTORY CR ACCOUNTS PAYABLE DR ACCUMULATED DEPRECIATION CR DEPRECIATION EXPENSE 1.Company purchased inventory on account 2.Company sold/provided services for cash 3.Company recorded depreciation on equipment for the period 4.Company paid NEXT YEAR's insurance premium 5.Company paid vendor for a prior purchase on account 6.Company paid utility bill 7.Company received cash deposit from customer for work to be performed in the future 8.Company received payment on previous sale made on account 9.Company purchased machinery with a note 10.Company issued a bond at face value 11.Company paid interest due on bond issued at face value 12.Company issued common stock at par value 13.Company issued common stock at par value in exchange for a building 14.Company declared a dividend on common stock 15.Company paid a previously declared dividend on common stock 16.Company disposed of equipment that was fully depreciated (no residual) 17.Company uses the percent of sales method and records estimated bad debts. 18.Company recorded closing entry for revenue account 19.Company recorded closing entry for expense account 20.Company's bank statement indicated a service charge that had not previously been recorded 21.Not Used - Match all unused journal entries to this item

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

Fundamentals Of Financial Accounting

Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby

7th Edition

1265440166, 978-1265440169

More Books

Students also viewed these Accounting questions

Question

What does this look like?

Answered: 1 week ago