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LIST OF ACCOUNTS Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Allowance to Reduce Inventory to Market Bad Debt Expense Bonds Payable Cash Call Option Common Stock

LIST OF ACCOUNTS Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Allowance to Reduce Inventory to Market Bad Debt Expense Bonds Payable Cash Call Option Common Stock

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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LIST OF ACCOUNTS

  • Accumulated Other Comprehensive Loss
  • Allowance for Doubtful Accounts
  • Allowance to Reduce Inventory to Market
  • Bad Debt Expense
  • Bonds Payable
  • Cash
  • Call Option
  • Common Stock
  • Cost of Goods Sold
  • Debt Investments
  • Dividend Revenue
  • Dividend Receivable
  • Equity Investments
  • Fair Value Adjustment
  • Futures Contract
  • Gain on Sale of Investments
  • Gain on Settlement of Call Option
  • Gain on Settlement of Put Option
  • Interest Expense
  • Interest Receivable
  • Interest Revenue
  • Inventory
  • Investment Income
  • Loss on Impairment
  • Loss on Sale of Investments
  • Loss on Settlement of Call Option
  • Loss on Settlement of Put Option
  • No Entry
  • Notes Payable
  • Paid-in Capital in Excess of Par - Common Stock
  • Put Option
  • Recovery of Loss from Impairment
  • Retained Earnings
  • Revenue from Investment
  • Sales Revenue
  • Swap Contract
  • Unrealized Holding Gain or Loss - Equity
  • Unrealized Holding Gain or Loss - Income

PLEASE HELP RECORD REVENUE CASH WAS WRONG

 

**Journal Entries Explanation** 1. **To record purchase of stock:** - **Debit:** Equity Investments - 192,000 - **Credit:** Cash - 192,000 2. **To record receipt of dividends:** - **Debit:** Cash - 8,100 - **Credit:** Equity Investments - 8,100 3. **To record revenue:** - **Debit:** Equity Investments - 32,400 - **Credit:** [Blank] - **Note:** The credit entry account name is missing here, indicating a need for clarification or completion. **Structure of the Table:** - The table is divided into three columns: "Account Titles and Explanation," "Debit," and "Credit." - Each transaction is clearly labeled with its purpose. - The table includes amounts corresponding to each account affected by the transactions.
Transcribed Image Text:**Journal Entries Explanation** 1. **To record purchase of stock:** - **Debit:** Equity Investments - 192,000 - **Credit:** Cash - 192,000 2. **To record receipt of dividends:** - **Debit:** Cash - 8,100 - **Credit:** Equity Investments - 8,100 3. **To record revenue:** - **Debit:** Equity Investments - 32,400 - **Credit:** [Blank] - **Note:** The credit entry account name is missing here, indicating a need for clarification or completion. **Structure of the Table:** - The table is divided into three columns: "Account Titles and Explanation," "Debit," and "Credit." - Each transaction is clearly labeled with its purpose. - The table includes amounts corresponding to each account affected by the transactions.
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