RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
![DR
ČR](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb64d8571-e220-40d3-97f5-865427e8bfcf%2F85ab7eaa-746e-4e9d-8310-4433f5b702bd%2F2o8dmqg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:DR
ČR
![Use the following accounts;
Cash
Foreign exchange gain
Foreign exchange loss
Capital
Gain on sale of short-term investment
Bank
Short-term investments
Loss on sale of short-term investment
RA established his own company, r@ktas Co. The following transactions are the events that
occurred during December 2018, the company's first month:
Date
12/1
The owner invested $ 200,000 cash for capital.
12/5
r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro
(Exchange rate was 1 Euro= 1,5 Dollar)
12/10
The Company purchased short-term investment with cash for $2,500.
12/18
The Company sold short-term investment with cash for $2.000
Note:
Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.
Requirements:
1- Give the journal entry for each transaction.
2- Post each transaction to T accounts.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb64d8571-e220-40d3-97f5-865427e8bfcf%2F85ab7eaa-746e-4e9d-8310-4433f5b702bd%2Fc0ijp7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following accounts;
Cash
Foreign exchange gain
Foreign exchange loss
Capital
Gain on sale of short-term investment
Bank
Short-term investments
Loss on sale of short-term investment
RA established his own company, r@ktas Co. The following transactions are the events that
occurred during December 2018, the company's first month:
Date
12/1
The owner invested $ 200,000 cash for capital.
12/5
r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro
(Exchange rate was 1 Euro= 1,5 Dollar)
12/10
The Company purchased short-term investment with cash for $2,500.
12/18
The Company sold short-term investment with cash for $2.000
Note:
Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.
Requirements:
1- Give the journal entry for each transaction.
2- Post each transaction to T accounts.
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