The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023.Debits$ 6,0003,0006,00012,000Account TitleCashAccounts receivableInventoryEquipmentAccumulated depreciationAccounts payableAccrued liabilitiesCommon stockRetained earningsSales revenueCost of goods soldSalaries expenseRent expenseAdvertising expenseDividendsTotals00000$ 27,000CreditsJanuary 16 Paid the entire amount due to the Strong Company.January 18 Received $6,000 from customers on account.January 20 Paid $900 to the owner of the building for January's rent.January 30 Paid employees $4,000 for salaries for the month of January.$ 4,5004,00009,0009,5000$ 27,000The following transactions occurred during January 2024:January 1 Sold inventory for cash, $4,500. The cost of the inventory was $3,000. The company uses the perpetualinventory system.January 2 Purchased equipment on account for $6,500 from the Strong Company. The full amount is due in 15 days.January 4 Received a $200 invoice from the local newspaper requesting payment for an advertisement that Whitlow placedin the paper on January 2.January 8 Sold inventory on account for $6,000. The cost of the inventory was $3,800.January 10 Purchased inventory on account for $10,000.January 13 Purchased equipment for cash, $900. January 31 Paid a cash dividend of $900 to shareholders.4. Prepare an unadjusted trial balance as of January 31, 2024.TotalsWHITLOW MANUFACTURING CORPORATIONUnadjusted Trial BalanceJanuary 31, 2024Account TitleDebitsCredits

Trial balance is summary of all general ledger account balances in the business. General ledger…

Answered: January 31 Paid a cash dividend of $900…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Current Attempt in Progress Oriole Corporation reported the following information (in thousands) at December 31, 2024 : Dividends payable Bank loan payable - current portion Bank loan payable - non-current portion Common shares Retained earnings 2024 $15 280 420 640 700 2023 $5 280 300 440 530 Additional information: 1. 2. 3. The bank loan was increased by additional borrowings of $330 to partially finance the purchase of new equipment that cost $700. The bank loan was decreased by repayments. Common shares were issued during the year. None were repurchased. The company paid dividends during the year. Net income for the year was $420. B SUPPORT Prepare the financing activities section of Oriole's statement of cash flows for the year.
At the beginning of 2024, Glasson Academy reported a balance in common stock of $166,000 and a balance in retained earnings of $66,000. During the year, the company issued additional shares of stock for $56,000, earned net income of $46,000, and paid dividends of $11,600. In addition, the company reported balances for the following assets and liabilities on December 31. Assets Liabilities. Cash Supplies Prepaid rent Land Required: 1. Prepare a statement of stockholders' equity. 2. Prepare a balance sheet. $54,200 12,500 32,000 280,000 Complete this question by entering your answers in the tabs below. Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. Beginning Balance Ending Balance Accounts payable Utilities payable Salaries payable Notes payable GLASSON ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock $ Retained Earnings 08 Total Stockholders' Equity 0 $ 0 $14,600 5,600 5,100 31,000
C5.3
Question Content Area Entries for cash dividends The declaration, record, and payment dates in connection with a cash dividend of $30,800 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
Home work question accounting intermediate 11 stock and bonds journal entry on jan 1 2020 Thompson had 2 equity investment # of shares owned 200 cost per share $17 mkt value per share 12/31/2019 $23 what is journal entry
es C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) [LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Debit $ 5,000 249,000 10,500 0 $ 264,500 30,000 92,000 2,000 0 10,000 10,500 120,000 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 $ 264,500 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15…
Liability transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year: Date Transaction Feb. 15. Purchased merchandise on account from Kirkwood Co., $144,000, terms n/30. Mar. 17. Issued a 60-day, 7% note for $144,000 to Kirkwood Co., on account. May 16. Paid Kirkwood Co. the amount owed on the note of March 17. June 15. Borrowed $140,400 from Triple Creek Bank, issuing a 60-day, 8% note. July 21. Purchased tools by issuing a $120,000, 90-day note to Poulin Co., which discounted the note at the rate of 9%. Aug. 14. Paid Triple Creek Bank the interest due on the note of June 15 and renewed the loan by issuing a new 60-day, 10% note for $140,400. (Journalize both the debit and credit to the notes payable account.) Oct. 13. Paid Triple Creek Bank the amount due on the note of August 14. Oct. 19. Paid Poulin Co. the amount due on the note of July 21. Dec. 1. Purchased equipment from Greenwood Co. for…
Jj.84.
Liability Transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year: Feb. 15. Purchased merchandise on account from Kirkwood Co., $144,000, terms n/30. Mar. 17. Issued a 60-day, 8% note for $144,000 to Kirkwood Co., on account. May 16. Paid Kirkwood Co. the amount owed on the note of March 17. June 15. Borrowed $180,000 from Triple Creek Bank, issuing a 60-day, 9% note. July 21. Purchased tools by issuing a $102,000, 90-day note to Poulin Co., which discounted the note at the rate of 8%. Aug. 14. Paid Triple Creek Bank the interest due on the note of June 15 and renewed the loan by issuing a new 60-day, 10% note for $180,000. (Journalize both the debit and credit to the notes payable account.) Oct. 13. Paid Triple Creek Bank the amount due on the note of August 14. Oct. 19. Paid Poulin Co. the amount due on the note of July 21. Dec. 1. Purchased office equipment from Greenwood Co. for $96,000,…

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January 31 Paid a cash dividend of $900 to shareholders. 4. Prepare an unadjusted trial balance as of January 31, 2024. WHITLOW MANUFACTURING CORPORATION Unadjusted Trial Balance January 31, 2024 Account Title Debits Credits