You are buying 1000 shares of Facebook on January 1, 2021. You paid $320 per share plus a brokerage commission of $84. Calculations: Date Debit Credit Db Cr b) You sell 150 shares of Facebook stock on 30 May, 2021 for $315 per share, less a $55 brokerage commission. Calculations: Date Debit Credit Db Cr 2.a) Assume that on January 1, 2021, a six-month, 12% note receivable is acquired from a customer in settlement of an existing account receivable of $50000. Date Debit Credit Db Cr b) On July 1, 2021 (6 months after the date of the note), the note matures. Customer pays in cash Calculations: Date Debit Credit Db Cr
You are buying 1000 shares of Facebook on January 1, 2021. You paid $320 per share plus a brokerage commission of $84. Calculations: Date Debit Credit Db Cr b) You sell 150 shares of Facebook stock on 30 May, 2021 for $315 per share, less a $55 brokerage commission. Calculations: Date Debit Credit Db Cr 2.a) Assume that on January 1, 2021, a six-month, 12% note receivable is acquired from a customer in settlement of an existing account receivable of $50000. Date Debit Credit Db Cr b) On July 1, 2021 (6 months after the date of the note), the note matures. Customer pays in cash Calculations: Date Debit Credit Db Cr
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
You are buying 1000 shares of Facebook on January 1, 2021. You paid $320 per share plus a brokerage commission of $84.
Calculations:
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Date |
Debit |
Credit |
Db |
Cr |
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- b) You sell 150 shares of Facebook stock on 30 May, 2021 for $315 per share, less a $55 brokerage commission.
Calculations:
|
Date |
Debit |
Credit |
Db |
Cr |
|
|
|
|
|
|
||
|
|
|
|
|
||
2.a) Assume that on January 1, 2021, a six-month, 12% note receivable is acquired from a customer in settlement of an existing
|
Date |
Debit |
Credit |
Db |
Cr |
|
|
|
|
|
|
||
|
|
|
|
|
||
- b) On July 1, 2021 (6 months after the date of the note), the note matures. Customer pays in cash
Calculations:
|
Date |
Debit |
Credit |
Db |
Cr |
|
|
|
|
|
|
||
|
|
|
|
|
||
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