Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/clouawmm/public_html/wp-includes/functions.php on line 6114
Prepare general journal entries to record these transactions - Cloud Essays

Cloud Essays

High Quality Essays

Browse Our Directory

Awaiting product image

Prepare general journal entries to record these transactions

$5.00

Business transactions completed by Hannah Venedict during the month of September are as follows.

a. Venedict invested $84,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting.
b. The company purchased land valued at $35,000 and a building valued at $170,000. The purchase is paid with $35,000 cash and a long-term note payable for $170,000.
c. The company purchased $1,700 of office supplies on credit.
d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,200 and is to be used exclusively in the business.
e. The company purchased $5,400 of additional office equipment on credit.
f. The company paid $1,900 cash salary to an assistant.
g. The company provided services to a client and collected $7,000 cash.
h. The company paid $645 cash for this month’s utilities.
i. The company paid $1,700 cash to settle the account payable created in transaction c.
j. The company purchased $20,300 of new office equipment by paying $20,300 cash.
k. The company completed $6,750 of services for a client, who must pay within 30 days.
l. The company paid $1,800 cash salary to an assistant.
m. The company received $4,000 cash in partial payment on the receivable created in transaction k.
n. The company paid $2,600 cash in dividends.

Required:
1. Prepare general journal entries to record these transactions

SKU: prepare-general-journal-entries-to-record-these-transactions Category:
Share with others

Details

Business transactions completed by Hannah Venedict during the month of September are as follows.

a. Venedict invested $84,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting.
b. The company purchased land valued at $35,000 and a building valued at $170,000. The purchase is paid with $35,000 cash and a long-term note payable for $170,000.
c. The company purchased $1,700 of office supplies on credit.
d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,200 and is to be used exclusively in the business.
e. The company purchased $5,400 of additional office equipment on credit.
f. The company paid $1,900 cash salary to an assistant.
g. The company provided services to a client and collected $7,000 cash.
h. The company paid $645 cash for this month’s utilities.
i. The company paid $1,700 cash to settle the account payable created in transaction c.
j. The company purchased $20,300 of new office equipment by paying $20,300 cash.
k. The company completed $6,750 of services for a client, who must pay within 30 days.
l. The company paid $1,800 cash salary to an assistant.
m. The company received $4,000 cash in partial payment on the receivable created in transaction k.
n. The company paid $2,600 cash in dividends.

 

Required:
1. Prepare general journal entries to record these transactions

Reviews

There are no reviews yet.

Only logged in customers who have purchased this product may leave a review.

Related products