Prepare the following journal entries

Assignment Help Financial Accounting
Reference no: EM13508476

Please prepare the following journal entries. Indicate which account should be debited with the abbreviation DR in front of the account name and which account should be credited with the abbreviation CR in front of the account name along with the dollar amount of the debit and credit.

a) Investors invested $150,000 in exchange for 10,000 shares of common stock.
b) Company made payment on account for $10,000
c) Company received $15,000 for services not yet performed
d) Company purchased $7,500 worth of equipment
e) Company billed $5,000 for services performed

Reference no: EM13508476

Questions Cloud

Compute the following for the month of june : The controller at Emporia Precision Parts asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for June.
Make humans less resistant to change : Use the web to find some of that research and identify things that can make humans less resistant to change. Write your findings in a 2 page essay. Be sure to use APA formatting.
Determine the acceleration of the toboggan : A toboggan approaches a snowy hill moving at 10.9 m/s. The coefficients of static and kinetic friction between the snow and the toboggan are 0.470 and 0.320, Find the acceleration of the toboggan as it is going up the hill
Find nash equilibria : The businessman wants to persuade the politician to give him a monopoly in a certain industry. If he gets the monopoly, the businessman makes $10 million in profits - businessman wants to persuade the politician
Prepare the following journal entries : Please prepare the following journal entries. Indicate which account should be debited with the abbreviation DR in front of the account name and which account should be credited.
Ability to maintain health varies greatly : As your text indicates, access to health care and one's ability to maintain health varies greatly in the United States. Obviously, health care access has a significant impact on the quality of life  and life chances that individuals experience.
Estimate the angular speed of the earth : It takes 23 hours 56 minutes and 4 seconds for the earth to make one revolution (mean sidereal day). What is the angular speed of the earth
Values and behaviors through political socialization : Your text indicates that we learn political attitudes, values and behaviors through political socialization. Our families of origin are primary agents of socialization and are likely the first group to influence our political ideas. In what ways did ..
What would be the acceleration of the crate : A winch is used to drag a 300 N crate up a ramp at a constant speed of 68.0 cm/s by means of a rope that pulls parallel to the surface of the ramp. If the rope were suddenly to snap, what would be the acceleration of the crate immediately after the..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Discuss the propriety of increasing the stated value

Explain why the book and fair values of the goodwill of Elson Corporation are different. Discuss the propriety of (a) increasing the stated value of goodwill prior to the negotiations and (b) eliminating goodwill completely from the balance sheet p..

  Analyze the way that it responded to this ethical dilemma

Explain the ethical dilemma that it faced or is currently facing. Analyze the way that it responded to this ethical dilemma and outline the legal, social, or political outcomes

  The subsequent costs results from the production and sale

the subsequent costs results from the production and sale of 4000 drum sets manufactured by vince drum corporation for

  Question suppose you are an accountant at abc loans your

question suppose you are an accountant at abc loans. your role is to assess loan applications. as part of its

  Laura corporation is considering the purchase of new

laura corporation is considering the purchase of new equipment with a cost of 41000. the expected cash inflow from the

  Rensing inc has 800000 of 6 percent preferred stock and

rensing inc. has 800000 of 6 percent preferred stock and 1200000 of common stock outstanding each having a par value of

  How must the irs collect the liability for federal taxes

Ivory Corporation, a calendar year, accrual method C corporation, has two cash method, calendar year shareholders who are unrelated to each other. Craig owns 55% of the stock, and Oscar owns the remaining 45%.

  What is the npv of the project

Suppose your required return on the project is 8 percent and your pretax cost savings are $196,000 per year. What is the NPV of the project?

  Post all journal entries and adjusting journal entries

Post all journal entries and adjusting journal entries to the general ledger T-accounts and ending balances of all permanent accounts to the beginning balances (BB) in July's general ledger T-accounts. Please round all amounts to the neares..

  Cost allocation theory through cost drivers

Cost allocation theory through cost drivers - Why do they allocate costs anyway in a government (City Government) setting -- aren't cost allocation methods mostly for manufacturing companies?

  Required1 perform horizontal financial analysis using at

required1 perform horizontal financial analysis using at least 5 financial ratios including both balance sheet and

  Identification of several factors of materiality

Identification of several factors of materiality and Identify several factors considered by an accountant in deciding whether an item is "material."

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd