Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

this is accounting. Plz solve some these questions! EB EB F X, X' M6 X fx 01 Jun Issue common stock in exchange for cash

this is accounting. Plz solve some these questions!

image text in transcribed

EB EB F X, X' M6 X fx 01 Jun Issue common stock in exchange for cash of s120,000. 2 02-Jun obtain a loan of s30,000 from the bank by signing a note. 3L 07-Jun Purchase car wash equipment for $75,000 cash A 08 Jun Receive $4,000 cash from customers for work to be performed next month 5 10-Jun A utility bill of s1300 for the current month is paid 12Jun wash 800 cars for $10 each, all on account, no customers have paid cash yet. 7 19-Jun Pay for 6 months of advertising in advance costing si 200. 8 23-Jun Purchase cleaning supplies of S3000 on account. 9 30 Jun Receive $6,000 payment from customers accounts receivable. 10 30-Jun Pay dividends of $600 to stockholders 12 DATE ACCOUNT DEBIT CREDIT 13 June 1st Cash $120,000 Common Stock $120,000 complete a journal entry for each transaction Then explain if the transaction has increased or decreased, assets, liabilities and equity Assets abilitie t. Equity Increase ncrease

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

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

More Books

Students also viewed these Accounting questions

Question

What should appear in a direct reporting engagement report?

Answered: 1 week ago

Question

Evaluate 3x - x for x = -2 Answer:

Answered: 1 week ago