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Journalize the following business transactions in general journal form. Identify each transaction by number. 1. The company issues stock in exchange for $40,000 cash. Purchased $400 of supplies on credit. Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. Real estate commissions billed to clients amount to $4,000. 2. 3. 4. 5. 6. 7. 8. 9. 10. Paid $700 in cash for the current month's rent. Paid $200 cash on account for supplies purchased in transaction 2. Received a bill for $600 for advertising for the current month. Paid $2,200 cash for office salaries and wages. The company paid dividends of $1,500. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.

Journalize the following business transactions in general journal form. Identify each transaction by number. 1. The company issues stock in exchange for $40,000 cash. Purchased $400 of supplies on credit. Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. Real estate commissions billed to clients amount to $4,000. 2. 3. 4. 5. 6. 7. 8. 9. 10. Paid $700 in cash for the current month's rent. Paid $200 cash on account for supplies purchased in transaction 2. Received a bill for $600 for advertising for the current month. Paid $2,200 cash for office salaries and wages. The company paid dividends of $1,500. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4.

FINANCIAL ACCOUNTING
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 6 of 10 Journalize the following business transactions in general journal form. Identify each transaction by number. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. < > The company issues stock in exchange for $40,000 cash. Purchased $400 of supplies on credit. Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. Real estate commissions billed to clients amount to $4,000. Paid $700 in cash for the current month's rent. Paid $200 cash on account for supplies purchased in transaction 2. Received a bill for $600 for advertising for the current month. Paid $2,200 cash for office salaries and wages. The company paid dividends of $1,500. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, selec for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit -12 Credit
Transcribed Image Text:Question 6 of 10 Journalize the following business transactions in general journal form. Identify each transaction by number. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. < > The company issues stock in exchange for $40,000 cash. Purchased $400 of supplies on credit. Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. Real estate commissions billed to clients amount to $4,000. Paid $700 in cash for the current month's rent. Paid $200 cash on account for supplies purchased in transaction 2. Received a bill for $600 for advertising for the current month. Paid $2,200 cash for office salaries and wages. The company paid dividends of $1,500. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, selec for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit -12 Credit
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