Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Utalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are

Utalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. No Account Titles and Explanation 1. Stockholders invest $44,000 in cash in starting a real estate office operating as a corporation. Purchased $500 of supplies on credit. Purchased equipment for $22,000, paying $3,500 in cash and signed a 30-day, $18,500, note payable. Real estate commissions billed to clients amount to $4,000. Paid $650 in cash for the current month's rent. Paid $250 cash on account for office supplies purchased in transaction 2. Received a bill for $950 for advertising for the current month. Paid $2,900 cash for office salaries. Paid $1,250 cash dividends to stockholders. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4. 2. Debit Credit
image text in transcribed
image text in transcribed
20urnaize the following business transactions in general journal form. identify each transaction by number. You may omit. oxplanations of the transactions. (Credit account titles are cutamatically indented when the arnount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter O for the amounts. List all debit entries before credit entries.) 1. Stockholders invest $44,000 in cash in starting a real estate office operating as a corporation. 2. Purchased $500 of supplies on credit. 3. Purchased equiprnent for $22,000, paying $3,500 in cash and signed a 30 day, $18,500, note payable 4. Realestate commissions bilied to clients amount to $4,000. 5. Paid $650 in cash for the current month's rent. 6. Paid $250 cash on account for office supplies purchased in transaction 2 7. Received a bill for $950 for advertising for the current month. 8. Pilid\$2.900 cash for office salaries: 9. Paid $1,250 cash dividends to stocidoolders. 10. Reccived a check for $2,000 from a client in payment on account for commissions billed in transaction 4. Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the omounts. List all debit entries before credit entries.) 1. Stockholders imvest $44,000 in cash in starting a real estate office operating as a corporation. 2 Purchased $500 of supplies on credit. 3. Purchased equipment for $22,000, paying $3,500 in cash and signed a 30 -day, $18,500, note payable. 4. Realestate commissions billed to clients amount to $4,000. 5. Paid $650 in cash for the current month's rent. 6. Paid $250 cashn account for office supplies purchased in transaction 2. 7. Received a bill for $950 for advertising for the current month. 8. Paid $2,900 cash for office salaries. 9. Paid $1,250 cash dividends to stockholders. 10. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4

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

Financial Accounting

Authors: Jane L. Reimers

1st Edition

0131492012, 978-0131492011

More Books

Students also viewed these Accounting questions

Question

13.11 Assign a name for each of the following compounds

Answered: 1 week ago

Question

Why advertising is important in promotion of a product ?

Answered: 1 week ago

Question

What is community?

Answered: 1 week ago

Question

What are the features of the community?

Answered: 1 week ago

Question

1. What are Associations ?

Answered: 1 week ago

Question

1. What is socialization?

Answered: 1 week ago