Record the following transactions using journal entries. Label credit and debit and type of account (asset etc). all transactions are for 2016. business is in first year and has no existing balances for all accounts. 12.) bee Corp acrues $10 interest for the year for the loan that bee Corp took from random corp for 2000. Bee Corp has not made any interest payments to random Corp. 13. bee Corp estimates that the market value of the factory purchased for (400 on account) has doubled to 800 due to economy. 14.) bee Corp declares a dividend of $20 and pays $15 cash to shareholders 15.) by end of 2016 bee Corp makes $10 interest from loan it had given to random company (for $200). The random company had not made any interest payments in 2016 to bee corp 16. depreciation for the factory in 2016 was $60 17. bee corp paid $100 in cash for store rent in 2016 18. bee corp signs contract with manager for $200 the manger begins working 2017 19. Bee Corp receives payment in 2017 for bottles bought in 2016- 50 units of inventory for $2 each to customers 20. Bee corp delivers the bottles for which it recieved payment for (is this a no entry recoding?)
Record the following transactions using
all transactions are for 2016. business is in first year and has no existing balances for all accounts.
12.) bee Corp acrues $10 interest for the year for the loan that bee Corp took from random corp for 2000. Bee Corp has not made any interest payments to random Corp.
13. bee Corp estimates that the market value of the factory purchased for (400 on account) has doubled to 800 due to economy.
14.) bee Corp declares a dividend of $20 and pays $15 cash to shareholders
15.) by end of 2016 bee Corp makes $10 interest from loan it had given to random company (for $200). The random company had not made any interest payments in 2016 to bee corp
16.
17. bee corp paid $100 in cash for store rent in 2016
18. bee corp signs contract with manager for $200 the manger begins working 2017
19. Bee Corp receives payment in 2017 for bottles bought in 2016- 50 units of inventory for $2 each to customers
20. Bee corp delivers the bottles for which it recieved payment for (is this a no entry recoding?)
| S. no. | PARTICULAR | DEBIT | CREDIT |
| 12 | random corp | 10 | |
| to interest payable | 10 | ||
| 13 | (no entery) | ||
| 14 | shareholders | 20 | |
| to cash | 15 | ||
| to dividend payable | 5 | ||
| 15 | interest receivable | 10 | |
| to random company | 10 | ||
| 16 | depreciation | 60 | |
| to factory | 60 | ||
| 17 | rent | 100 | |
| to cash | 100 | ||
| 18 | managers contract | 200 | |
| to cash | 200 | ||
| 19 | cash | 100 | |
| to customer | 100 | ||
| 20 | ( no entry ) | ||
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