Use the following accounts;CashBankShort-term investmentsLoss on sale of short-term investmentForeign exchange gainForeign exchange lossCapitalGain on sale of short-term investmentRA established his own company, r@ktas Co. The following transactions are the events thatoccurred during December 2018, the company’s first month:Date12/1 The owner invested $ 200,000 cash for capital.12/5 r@ktas Co., opened deposit account on Don’t Trust Bank and put 2.000 Euro(Exchange rate was 1 Euro= 1,5 Dollar)12/10 The Company purchased short-term investment with cash for $2,500.12/18 The Company sold short-term investment with cash for $2.000Note:• Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.Requirements:1- Give the journal entry for each transaction.2- Post each transaction to T accounts. Use the following accounts;CashForeign exchange gainForeign exchange lossCapitalGain on sale of short-term investmentBankShort-term investmentsLoss on sale of short-term investmentRA established his own company, r@ktas Co. The following transactions are the events thatoccurred during December 2018, the company's first month:Date12/1The owner invested $ 200,000 cash for capital.12/5r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro(Exchange rate was 1 Euro= 1,5 Dollar)12/10The Company purchased short-term investment with cash for $2,500.12/18The Company sold short-term investment with cash for $2.000Note:Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.Requirements:1- Give the journal entry for each transaction.2- Post each transaction to T accounts. DRCR

Name: Use the following accounts;CashBankShort-term investmentsLoss on sale
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Description: Use the following accounts;CashBankShort-term investmentsLoss on sale of short-term investmentForeign exchange gainForeign exchange lossCapitalGain on sale of short-term investmentRA established his own company, r@ktas Co. The following transactions

Date Particulars Amount ($) Amount ($) 01/12 Cash A/c To Capital A/c (Being Cash invested in…

Answered: Use the following accounts; Cash Bank…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 26P

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Use the following accounts;
Cash
Bank
Short-term investments
Loss on sale of short-term investment
Foreign exchange gain
Foreign exchange loss
Capital
Gain on sale of short-term investment

RA established his own company, r@ktas Co. The following transactions are the events that
occurred during December 2018, the company’s first month:

Date
12/1 The owner invested $ 200,000 cash for capital.
12/5 r@ktas Co., opened deposit account on Don’t Trust Bank and put 2.000 Euro
(Exchange rate was 1 Euro= 1,5 Dollar)
12/10 The Company purchased short-term investment with cash for $2,500.
12/18 The Company sold short-term investment with cash for $2.000
Note:
• Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.

Requirements:
1- Give the journal entry for each transaction.
2- Post each transaction to T accounts.

Use the following accounts;
Cash
Foreign exchange gain
Foreign exchange loss
Capital
Gain on sale of short-term investment
Bank
Short-term investments
Loss on sale of short-term investment
RA established his own company, r@ktas Co. The following transactions are the events that
occurred during December 2018, the company's first month:
Date
12/1
The owner invested $ 200,000 cash for capital.
12/5
r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro
(Exchange rate was 1 Euro= 1,5 Dollar)
12/10
The Company purchased short-term investment with cash for $2,500.
12/18
The Company sold short-term investment with cash for $2.000
Note:
Exchange rate was 1 Euro= 1,4 Dollar at the end of the period.
Requirements:
1- Give the journal entry for each transaction.
2- Post each transaction to T accounts.

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