Using the information provided in BE4- 2, prepare Florences journal entries for the month of January. In
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In BE4.2
Florence’s Floral Arrangements, Inc. had the following transactions in the month of January: The owners invested $ 100,000 (the par value of the stock) for 20,000 shares of common stock; the company purchased furniture for the florist shop in the amount of $ 12,000, which was put on a credit account with the vendor; and the company paid employees wages of $ 6,000 in cash. What is the effect of each of these transactions on the accounting equation? Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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ACCOUNT DEBIT CREDIT Cash 100000 ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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