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we have to prepare a journal TobinQ Inc report the following transactions/events for the year 2020. Event 1: TobinQ was formed on June 1, 2020,

we have to prepare a journal image text in transcribed
TobinQ Inc report the following transactions/events for the year 2020. Event 1: TobinQ was formed on June 1, 2020, when it acquired $200,000 cash from issuing common stock Event 2: TobinQ took $100,000 bank loan. Event 3: The company acquired an additional $200,000 of cash by borrowing from a creditor Event 4: The company paid $500,000 cash to purchase land. Event 5: The company paid $20,000 for the cosulant, for availing consulting services. Event 6: The company obtained $85,000 cash by leasing campsites to customers. Event 7: The company paid $50,000 cash for operating expenses such as salaries, rent, and interest. Event 8: The company poaid $4,000 in cash dividends to its owners. Event 9: The land that the company paid $500,000 to purchase had an appraised market value of $525,000 on December 31, 2020. Event 10: The company paid a dividend of $3,000 to its owners, ACT 344 Computer Applications in Finance

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