Open the spreadsheet from the link below to create the following journal entries. Be sure that you insert the link from the spreadsheet when you have completed the question Click to open: Orlando Company began operations on December 1. The company had the following transactions during December. Record these transactions in proper form, including explanations. If an entry is not required, please write "No Entry" a. Issued 50,000 shares of no par stock and received $350,000 cash b. Extended an offer of employment to a sales manager who will begin work on January 1. c. Purchased machinery on account for $450,000 from Tampa Company. d. Purchased for cash a two-year insurance policy for $4,800. This policy will become effective on January 1. e. Paid $2.500 cash in office rent for the month of January, f. Purchased office furniture for $50,000 with a 10% cash down payment and a six month note payable for the balance. g. Paid cash wages of $15,000 to employees. h. Provided services to customers on account for $85,000 1. Paid $200,000 to Tampa Company on account. 1. Received payment in full for services rendered (transaction h). k. Paid a telephone bill for $525 cash.

Open the spreadsheet from the link below to create the following journal entries. Be sure that you insert the link from the spreadsheet when you have completed the question Click to open: Orlando Company began operations on December 1. The company had the following transactions during December. Record these transactions in proper form, including explanations. If an entry is not required, please write "No Entry" a. Issued 50,000 shares of no par stock and received $350,000 cash b. Extended an offer of employment to a sales manager who will begin work on January 1. c. Purchased machinery on account for $450,000 from Tampa Company. d. Purchased for cash a two-year insurance policy for $4,800. This policy will become effective on January 1. e. Paid $2.500 cash in office rent for the month of January, f. Purchased office furniture for $50,000 with a 10% cash down payment and a six month note payable for the balance. g. Paid cash wages of $15,000 to employees. h. Provided services to customers on account for $85,000 1. Paid $200,000 to Tampa Company on account. 1. Received payment in full for services rendered (transaction h). k. Paid a telephone bill for $525 cash.

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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