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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![E2-10 Analyzing Accounting Equation Effects, Recording Journal Entries, and Summarizing Financial
Statement Impact [LO 2-2, LO 2-3, LO 2-4]
Rawlco Communications operates 15 radio stations. The following events occurred during September.
a. Placed an order for office supplies costing $1,600. Supplier intends to deliver later in the month.
b. Purchased equipment that cost $21,000; paid $6,000 cash and signed a promissory note to pay $15,000 in one month.
c. Negotiated and signed a one-year bank loan, and then deposited $5,000 cash in the company's checking account.
d. Hired a new finance manager on the last day of the month.
e. Received an investment of $9,000 cash from the company's owners in exchange for issuing common shares.
f. Supplies [ordered in (a)] were received, along with a bill for $1,600.
E2-10 Part 2
2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)
View transaction list
Journal entry workchoat
0 chp 1-2013 Fall pptx
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Transcribed Image Text:E2-10 Analyzing Accounting Equation Effects, Recording Journal Entries, and Summarizing Financial
Statement Impact [LO 2-2, LO 2-3, LO 2-4]
Rawlco Communications operates 15 radio stations. The following events occurred during September.
a. Placed an order for office supplies costing $1,600. Supplier intends to deliver later in the month.
b. Purchased equipment that cost $21,000; paid $6,000 cash and signed a promissory note to pay $15,000 in one month.
c. Negotiated and signed a one-year bank loan, and then deposited $5,000 cash in the company's checking account.
d. Hired a new finance manager on the last day of the month.
e. Received an investment of $9,000 cash from the company's owners in exchange for issuing common shares.
f. Supplies [ordered in (a)] were received, along with a bill for $1,600.
E2-10 Part 2
2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)
View transaction list
Journal entry workchoat
0 chp 1-2013 Fall pptx
< Prev 4 of 5
Next >
J

Transcribed Image Text:Journal entry worksheet
<
1
2
Transaction
a
Note: Enter debits before credits.
3
Placed an order for office supplies costing $1,600. Supplier intends to deliver
later in the month. Record the transaction.
Record entry
Chp 1-2015 Fail pptx
X
4
5
General Journal
PI
Clear entry
6
O
< Prev
Debit
Credit
View general journal
4 of 5
4
Next >
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