Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show with journal entries the following events: The company had taken on 1/5/20X6 a six-month bank loan of 1,300 pledged promissory notes with a nominal

Show with journal entries the following events:

  1. The company had taken on 1/5/20X6 a six-month bank loan of €1,300 pledged promissory notes with a nominal value of € 1,500. On 31/10/20X6 the company was informed by the bank about the following:
  1. The interest on the loan amounted to € 78.
  2. In addition to the interest, the bank charged the company with administrative expenses of €
  3. Promissory notes with a nominal value of € 1,300 expired and were received as normal.
  4. Promissory notes with a nominal value of € 200 expired, were not paid and were returned to the company. The company proceeded to denounce these
  5. 1,200 shares of OTE were sold for € 2.5 apiece. The shares were bought for €2 For the sale, the broker of the company charged expenses amounting to€ 30.

Step by Step Solution

3.45 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

Bank Account 1300 A loan from Bank Account 1300 Interest on Loan Accoun... 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

Step: 3

blur-text-image

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

Financial Accounting

Authors: LibbyShort

7th Edition

78111021, 978-0078111020

More Books

Students also viewed these Accounting questions

Question

What is the cerebrum?

Answered: 1 week ago