Pass journal entries for the above transactions: Purchased a truck for cash Issued share capital for cash Incurred a bank loan as payment for equipment Made a deposit for electricity service to be provided tot he company inthe future Paid rent expense Signed a new union contract that provides for increased wages in the future Wrote a letter of complaint to the prime minister; paid the messenger Billed customers for services performed Made a cash payment to satisfy an outstanding obligation Received a payment of cash in satisacton of an amount owed by a customer Collected cash from a customer for services rendered Paid cash for truck operation expenses Made a motnhly payment on the bank loan; this inculded a payment on part of the loan and also an amount ofinterest expense ( Hint: This transaction affects more than two parts of the accounting equation) Issued shares inthe company to pay off a loan

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Pass journal entries for the above transactions:

Purchased a truck for cash

Issued share capital for cash

Incurred a bank loan as payment for equipment

Made a deposit for electricity service to be provided tot he company inthe future

Paid rent expense

Signed a new union contract that provides for increased wages in the future

Wrote a letter of complaint to the prime minister; paid the messenger

Billed customers for services performed

Made a cash payment to satisfy an outstanding obligation

Received a payment of cash in satisacton of an amount owed by a customer

Collected cash from a customer for services rendered

Paid cash for truck operation expenses

Made a motnhly payment on the bank loan; this inculded a payment on part of the loan and also an amount ofinterest expense

( Hint: This transaction affects more than two parts of the accounting equation)

Issued shares inthe company to pay off a loan

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