6Metlock, Inc. had the following transactions during the current period.Mar. 2June 121July 11Nov. 28Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles areautomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for theaccount titles and enter O for the amounts.)Account Titles and ExplanationDateMar 2 #Issued 4,200 shares of $5 par value common stock to attorneys in payment of a bill for $25,400 for servicesperformed in helping the company to incorporateIssued 59,200 shares of $5 par value common stock for cash of $373,700.Issued 2,125 shares of $100 par value preferred stock for cash at $130 per share.Purchased 1,930 shares of treasury stock for $79,000June 12:DebitCreditSUPPORT

A journal entry is a basic accounting record that is used to chronologically track financial…

Answered: Mar 2 June 12 July 11 Nov. 28 Issued…

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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Subject - account Please help me. Thankyou.
On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Sheridan Ltd. Accounts payable $2,330 Accounts receivable 4,470 Accumulated depreciation-equipment 1,990 Cash 6,190 Common shares 11,800 Deferred revenue 1,370 Equipment 11,000 Interest receivable 22 Note receivable, due October 31, 2021 4,400 Retained earnings 8,162 Salaries payable 1,540 Supplies 1,110 During August, the following summary transactions were completed. Aug. 1 Paid $410 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) 3 Paid August rent $400. (Hint: Use the Prepaid Rent account.) 6 Received $3,450 cash from customers in payment of accounts. 10 Paid $3,360 for salaries due employees, of which $1,820 is for August and $1,540 is for July salaries payable. 13 Received $3,850 cash for services performed…
Use the following to answer questions 16 - 19 For each transaction indicate whether it should: A. increase, B. decrease, or C. no effect. Credit sales transaction cycle Asskiabilitstockholders’ equRtøvenespenses 16. Provide services on account 17. Estimate uncollectible accounts 18. Write off accounts as uncollectible 19. Collect on account previously written off
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On April 1, Carla Vista Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Issued common stock for $21,600 cash. Obtained a bank loan for $6,300 by issuing a note payable. Paid $9,900 cash to buy equipment. Paid $1,100 cash for April office rent. Paid $1,300 for supplies. Purchased $540 of advertising in the Daily Herald, on account. Performed services for $16,200: cash of $1,800 was received from customers, and the balance of $14,400 was billed to customers on account. Paid $360 cash dividend to stockholders. Paid the utility bill for the month, $1,800. Paid Daily Herald the amount due in transaction (6). Paid $40 of interest on the bank loan obtained in transaction (2). Paid employees' salaries, $5,760. Received $10,800 cash from customers billed in transaction (7). Paid income tax, $1,350. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and…
ACCT 102 - Please Do Both Subparts.
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Please journalize the info below. I need this asap please.
Subject : - Account
answer the following
(a) On March 1, journalize the entry to record the write-off, assuming that the direct write-off method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12(b) On March 1, journalize the entry to record the write-off, assuming that the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12

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