4Assume an oill well cost Ş SOOL000 an is estimated to hold 50,000 barrels of oil There is no residual value. 2000 barrels are extracted during the year.Genena JoumdDuAccount Tiees and ExplattenDebitCredie5.Com pay A has excess cash to invest and pays $ S0.000 to buy $ 80,000 tace value, 5 teve year Com pany B bonds on February 10, 2021 Com painy A plans tohold the bords until matrity.Genena JaumCreditAccount Tieex and Eeolanion 6.Company A pays $ 100,000 to purchase 20K of the com mon stock of Company B.Genena JeumAccoent fides nd ExatantonDebitEneditOn payday, Company A man paymem of $ 24.350 to rts employees and record the tooar antry23:21A 4)12.04.20

4 Assume an oll well cost $ SO0,000 an is estimated to hold S0,000 barrels of oil. There is no residual value. 2000 barrels are extracted during the year. Geeen Jaumat Pae Dute Account Tdes and bolantien Debit Credit

4 Assume an oll well cost $ SO0,000 an is estimated to hold S0,000 barrels of oil. There is no residual value. 2000 barrels are extracted during the year. Geeen Jaumat Pae Dute Account Tdes and bolantien Debit Credit

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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Question

4
Assume an oill well cost Ş SOOL000 an is estimated to hold 50,000 barrels of oil There is no residual value. 2000 barrels are extracted during the year.
Genena Joumd
Du
Account Tiees and Explatten
Debit
Credie
5.
Com pay A has excess cash to invest and pays $ S0.000 to buy $ 80,000 tace value, 5 teve year Com pany B bonds on February 10, 2021 Com painy A plans to
hold the bords until matrity.
Genena Jaum
Credit
Account Tieex and Eeolanion

6.
Company A pays $ 100,000 to purchase 20K of the com mon stock of Company B.
Genena Jeum
Accoent fides nd Exatanton
Debit
Enedit
On payday, Company A man paymem of $ 24.350 to rts employees and record the tooar antry
23:21
A 4)
12.04.20

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