2. Common stock issued at par for P20,900. 3. Depreciation recorded on buildings for P15,000. 4. Paid salaries of P6,700. 5. Issued 1,300 shares of 1 par value common stock for equipment worth P8,500. 6. Sold equipment (cost 14,500, accumulated depreciation on it was 10,150) for 1,740. For each transaction above, prepare the journal entry.

2. Common stock issued at par for P20,900. 3. Depreciation recorded on buildings for P15,000. 4. Paid salaries of P6,700. 5. Issued 1,300 shares of 1 par value common stock for equipment worth P8,500. 6. Sold equipment (cost 14,500, accumulated depreciation on it was 10,150) for 1,740. For each transaction above, prepare the journal entry.

Name: 1. (Cost P8,080) Sold land for P10,100.2. Common stock issued at par
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Description: 1. (Cost P8,080) Sold land for P10,100.2. Common stock issued at par for P20,900.3. Depreciation recorded on buildings for P15,000.4. Paid salaries of P6,700.5. Issued 1,300 shares of 1 par value common stock for equipment worth P8,500.6. Sold equip

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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