Provide journal entries to record each of the following tranuctiona. For each, using the capital letter only, identity whether the transaction represents a sourcE of cash SL a use of canh (U), ar neither (NLPLEASE NOTE: All whale dollr amounts will be with "$"and commas as needed ie. $12,345). Far the journal entry, you mut enter the account names exactly an written balow and for acounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, fallowed by Income Statement account.CanhTruckLandLom on Sale of LandDividendsGain on Sale of LandAccounts ReceivableCommon SockNote PayalaleDeclared and paid to sharcholders, a dividend of $24,000.DRTrarnaction - Source of cash SL Use of cash (UL or Neither (N).haund comman stock at par value for $12,000DRTrarnaction - Source of cash SL Use of cash (UL or Neither (N.Sald a tract of land that had coat $10,000, for $16.000.DRDR CTrarnaction - Source of cash (SL Use of cash (U or Neither (N)Purchaed a cnmpany truck, with a note payable of $38,000.DRTrarnaction - Source of cash (Sl Use of cash (U, or Neither (N)Collected Sa000 from cutomer acounts receivalble.DRTrarnaction - Source of cash (SL Use of cash (U or Neither (N)

Gain on sale of land = Sale value - Cost = $ 16000 - $ 10000 = $ 6000

Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N

Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 4EB: For each of the following transactions, state which special journal (Sales Journal, Cash Receipts...

See similar textbooks

Similar questions

Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $350 on January 2. On January 31, the fund contained cash of $166.00 and vouchers for the following cash payments. Maintenance expense Office supplies Transportation expense $72.00 72.00 37.00 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment.
Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that no posting is required.
Please read and create journal entry for the three statements.
Your options are: A B C D E F
Complete the general ledger entries in the first picture using the transactions from the purchases and cash payments journal (in that order) in the second image. For accounts with a $0 balance after posting an event, enter a "0" on the normal side of the account. If a line is not used in the table, leave the line empty; do not select a label or enter a zero. Abbreviations used: CR = Cash Receipts Journal, CP = Cash Payments Journal, J. = General Journal, P = Purchases Journal, S = Sales Journal.
please answer this please
[The following Information applles to the quIestions alsplayed below Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and It reported two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its September 30 reconcilation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,800.45 9,628.85 11,272.85 18,453.25 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Anount Date Aпount 09/03 09/04 09/07 09/17 09/28 09/22 09/22 09/28 69/29 5888 1,e28.es 69/05 09/12 1,183.75 5982 719.90 2.226.90 5981 1,824,25 09/21 4,093.ee 2,351.7e 09/25 09/30 09/30 6e0.25 NSF 5985 937.00 12.5e IN 1,485.ee CM 5983 399.10 2,e90.ee 5984 5987 213.85 5989 1,807.65 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit 1,183.75 2,226.90 4,093.ee 2,351.7e 1,682.75 Sep. 5 12 21 25 30 11,458.18 Cash Disbursenents Check…
Kindly do a balance sheet extract
When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned Revenue b.Sales Discounts c.Accounts Payable d.Cash
Which of the following transactions will require a journal entry? Indicate if it will be a debit or a credit and to what account the entry will be recorded. Select "NA" if not applicable. Transaction No JournalEntryNeeded JournalEntryNeeded Debit Credit Outstanding check Interest income NFS check Wire transfer by customer Deposit in transit Bank charges
Please do not give solution in image format ? And Fast answering please and explain proper steps by Step.
In the Payments Journal window, invoices being paid will display the: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to sele a b с d Number of items sold on the invoice. The transaction due date. Credit terms. All of the above.