Jin Li, an employee of ETrain.com, leases a car at O'Hare Airport for a three-day business trip. The rental cost is $205. Prepare the entry by ETrain.com to record Jin Li's short-term car lease cost paid in cash. View transaction list Journal entry worksheet A Record the short-term car lease cost of $205. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal

Jin Li, an employee of ETrain.com, leases a car at O'Hare Airport for a three-day business trip. The rental cost is $205. Prepare the entry by ETrain.com to record Jin Li's short-term car lease cost paid in cash. View transaction list Journal entry worksheet A Record the short-term car lease cost of $205. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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