Record the following selected transactions for January in a two-column journal. Recorded $12,000 of income on account. Received $900 in cash for fees earned. Paid $12,000 to creditors on account. Paid salaries of $15,250. Received $22,000 from an investor in exchange for stock. Purchased equipment for $20,000, paying $5,000 in cash and borrowing the rest. Paid $1,000 for monthly rent. Purchased $800 of supplies paying cash. Received $1,100 from customers on account. Declared and recorded a $2,000 dividend.
Record the following selected transactions for January in a two-column journal. Recorded $12,000 of income on account. Received $900 in cash for fees earned. Paid $12,000 to creditors on account. Paid salaries of $15,250. Received $22,000 from an investor in exchange for stock. Purchased equipment for $20,000, paying $5,000 in cash and borrowing the rest. Paid $1,000 for monthly rent. Purchased $800 of supplies paying cash. Received $1,100 from customers on account. Declared and recorded a $2,000 dividend.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Record the following selected transactions for January in a two-column journal.
|
Recorded $12,000 of income on account. |
|
Received $900 in cash for fees earned. |
|
Paid $12,000 to creditors on account. |
|
Paid salaries of $15,250. |
|
Received $22,000 from an investor in exchange for stock. |
|
Purchased equipment for $20,000, paying $5,000 in cash and borrowing the rest. |
|
Paid $1,000 for monthly rent. |
|
Purchased $800 of supplies paying cash. |
|
Received $1,100 from customers on account. |
|
Declared and recorded a $2,000 dividend. |
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