Record in the general journal, including explanations for Flower Incorporation from the following transactions: Issued capital stock of 34000 shares at $11.50 per shares and received cash. Purchased a proton car from Lee Company for $7000 on account, 2/10 term. Provided service on account to Pearson Inc. and billed $71 450. December 1 2 4 9. Paid to Lee Company as full settlement. 15 Obtain an overdraft facility of $30000 from AIA Bank. 20 Purchased a Plant from Dynasty's Warehouse for $25 000; paid $10,000 cash and issued a note payable due in 10 days for the balance.

Record in the general journal, including explanations for Flower Incorporation from the following transactions: Issued capital stock of 34000 shares at $11.50 per shares and received cash. Purchased a proton car from Lee Company for $7000 on account, 2/10 term. Provided service on account to Pearson Inc. and billed $71 450. December 1 2 4 9. Paid to Lee Company as full settlement. 15 Obtain an overdraft facility of $30000 from AIA Bank. 20 Purchased a Plant from Dynasty's Warehouse for $25 000; paid $10,000 cash and issued a note payable due in 10 days for the balance.

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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