FINANCIAL ACCOUNTING
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Author: Libby
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Transcribed Image Text:Exam Midterm_F22_C_send.pdf X +
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Journalize the following business transactions in the general journal form for Chosen
Company.
Accounting Transactions
Transactions
Investors purchased 1,000 shares of common stock at $5/share from Chosen
Company.
2. Purchased $3,000 of inventory on account.
Purchased equipment for $10,000, paying $3,000 in cash and the rest on
account.
4. Paid $3,000 on account for inventory purchased from transaction 2.
No.
1.
3.
Assets
Cash
Accounts Receivable
Inventory
Supplies
Prepaid Insurance
Equipment
Building
Land
Accumulated Depreciation
Chart of Accounts
Liabilities
Accounts Payable
Unearned Revenue
Taxes Payable
Notes Payable
O Search the web
Stockholders' Equity
Common Stock
Retained Earnings
Service Revenue
Sales Revenue
Advertising Expense
Utilities Expense
Wages and Salaries Expense
Insurance Expense
Supplies Expense
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