Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Solve Journal Entries; directions for journal entries are directly below the yellow space EDIT: ON NUMBER 6, 10/1 should be 9/1 ACCOUNT TILES AND BOPLANATIONS
Solve Journal Entries; directions for journal entries are directly below the yellow space
EDIT: ON NUMBER 6, 10/1 should be 9/1
ACCOUNT TILES AND BOPLANATIONS Paid $4,000 for purchases made an account Received 200 straight ironis, FOB destinasiert, purchased on account for 523 each Paid $500 in wages owed from the prior swed 5,000 shares of $0.50 par wave commodock at a price of 56 each Purchased 1,000 shares of stock at price of $6.20 each Sold 200 strigations on account at a price of $90 Mese FIFO perpetual inwovy at 10/1, it had 25 and 75 straight fronts at a cost of $22 purchased 8/1) ght irons at cost of $21 mach purchased 7/1 Who $300 of specific bankrupt customers account I called $7.000 from the sales made an account Paid the 2nd installment payment of $120 ont is $4,000, 6% no round to the nearest daar 109/30 Declared a $0.50 cash dividend per share te is shareholders to be paid next month A10/30 Adjusted for the change in the price of the 100 shares of which are trading at $83.50 persone investment in Fed h a A29/30 Adjused for collectale account ma be $950 ofis account cavables A3 9/30 Adjusted for insurance sed during the month Adjust for d en of wint AS 9/30 Adjust for $500 af wages owed that will be paid next month August 31 Adjusted Trial Balances (in US $) Account Title Debits Credits 22,760 8,500 12,205 600 3,200 700 12,500 400 6,200 500 3,900 15,000 Cash Marketable Securities Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Dividends Payable Common Stock Paid-in Capital in Excess of Par Retained Earnings Treasury Stock Sales Revenue Cost of Goods Sold Insurance Expense Depreciation Expense Wages Expense Doubtful Accounts Expense Interest Expense Unrealized Gain (Loss) on Marketable Securities Dividends Total 33,265 59,865 59,865Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started