Journal Entry Question #2. Journalize the following adjustme…
Journal Entry Question #2. Journalize the following adjustments for January in the text box below (see Journal Entry Instructions above). Skip a line between journal entries. Jan 31 : The supplies account balance on Jan 31 is $8,660, the supplies on hand on Jan 31 are $1,635 Jan 31 : The unearned rent account balance on Jan 31 is $6,000 representing the receipt of an advance payment on Jan 1 of four months’ rent from tenants. Jan 31 : Wages accrued but not paid at Jan 31 are $3,150 Jan 31 : Fees accrued but unbilled at Jan 31 are $17,905 Jan 31 : January’s depreciation of office equipment is $10,250.
Read DetailsJournal Entry Question #1. Journalize the following selected…
Journal Entry Question #1. Journalize the following selected transactions for January in the text box below (see Journal Entry Instructions above). Skip a line between journal entries. Jan 1 : Received cash for providing accounting services of $20,000 Jan 2 : Paid six months of rent in advance for $15,000 Jan 3 : Paid advertising expense of $900 Jan 4 : Declared a cash dividend to be paid on Febuary 2nd for $8,000 Jan 5 : Purchased equipment for $30,000 cash and a $15,000 note payable
Read DetailsJournal Entry Question #3. Record the following capital stoc…
Journal Entry Question #3. Record the following capital stock transactions in the text box below. (See journal entry instructions above.) Skip a line between entries. Document your calculations for the transactions in the calculations question below the journal entry form. May 1 : 10,000 shares of $1 par value, common stock were issued for cash at $5 per share May 7 : 5,000 shares of 6% $10 par value, preferred stock were issued for cash at $20 per share Nov 2 : 3,000 shares of common stock were repurchased (treasury stock) at $2 per share Dec 10 : 1,000 shares of the treasury stock were reissued for cash at $6 per share Note: Paid-in Capital in Excess of Par (aka: Additional Paid-in Capital) may be abbreviated as APIC).
Read DetailsA researcher runs an experiment that produces 135.2 g of alu…
A researcher runs an experiment that produces 135.2 g of aluminum sulfate when adding 25.3 g of aluminum to excess sulfuric acid according the the following equations. What is the percent yield of the reaction? 2Al(s) + 3H2SO4(aq)
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