On April 1, Tamarisk, Inc. was established. These transacti 1 Stockholders Invested $28,900 cash in the compa 2. Paid $840 cash for April office rent. 3. Purchased office equipment for $3,300 cash. Purchased $370 of advertising in the Chicogo Trih

Park & Company was recently formed with a $6,400 investment in the company by stockholders in exchange for common stock. The company then borrowed $3,400 from a local bank, purchased $1,140 of supplies on account, and also purchased $6,400 of equipment by paying $2,140 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are: Multiple Choice $9,800. $15,200. $12,800. $11,940.

E2-13 (Algo) Recording Journal Entries LO2-4 Jameson Corporation was organized on May 1. The following events occurred during the first month. a. Received $72,000 cash from the five investors who organized Jameson Corporation. Each investor received 110 shares of $10 par value common stock. b. Ordered store fixtures costing $11,000. c. Borrowed $10,000 cash and signed a note due in two years. d. Purchased $18,000 of equipment, paying $1,100 in cash and signing a six-month note for the balance. e. Lent $1,500 to an employee who signed a note to repay the loan in three months. f. Received and paid for the store fixtures ordered in (b). Required: Prepare journal entries for 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 worksheet < 1 2 3 4 5 6 Record the receipt of $72,000 cash from five investors who each received 110 shares of $10 par value common stock. Note: Enter…

Assume Down, Incorporated, was organized on May 1 to compete with Despair, Incorporateda company that sells de - motivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations.a. Received $40,000 cash from the investors who organized Down, Incorporatedb. Borrowed $19,000 cash and signed a note due in two years.c. Ordered equipment costing $22,000.d. Purchased $10,000 in equipment, paying $3,000 in cash and signing a six-month note for the balance.e. Received the equipment ordered in (c), pald for half of it, and put the rest on account. Pleaae tell me the cash and equipment

Krespy Corp. has a cash balance of $7,500 before the following transactions occur:- received customer payments of $965 supplies purchased on account $435 services worth $850 performed, 25% is paid in cash the rest will be billed corporation pays $275 for an ad in the newspaper bill is received for electricity used $235. dividends of $2,500 are distributed What is the balance in cash after these transactions are journalized and posted?

Hello, I need help please

Create journal entries for each of the following transactions   The company issues capital stock for $90,000. The company borrows $40,000 from the bank. The company pays its rent for one year in advance, $18,000. The company buys inventory for $30,000 on account. The company sells inventory costing $20,000 for $40,000 on account. The company pays its employees $1,000 for services rendered. The company buys inventory for $50,000 cash. The company sells inventory costing $40,000 for $80,000 cash. The company collects $20,000 from customers on account. The company pays $25,000 on account. One month of rent has expired. Dividends of $2,000 are paid.

Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable $82,000 Buildings 610,000 Cash 101,000 Common Stock 280,000 Equipment 170,000 Land 499,000 Notes Payable (long-term) 4,000 Retained Earnings Supplies 1,021,000 7,000 During the month of July, the company had the following activities: 1. Issued 4,000 shares of common stock for $400,000 cash. 2. Borrowed $115,000 cash from a local bank, payable in four years. 3. Bought a building for $188,000; paid $77,000 in cash and signed a three-year note for the balance. 4. Paid cash for equipment that cost $101,000. 5. Purchased supplies for $101,000 on account. Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account ba a minus sign.) a. b. C. d. e. Cash Assets Liabilities Accounts Supplies Buildings Equipment Payable Notes Payable (long-term) Stockholders Equity Common Stock 53…

Alex Vera organized Succulent Epress at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason invested $30,000 in Succulent Express in exchange for common stock. b. Paid $5,400 on February 1 for an insurance premium on a one-year policy. c. Purchased supplies on account, $1,800. d. Received fees of $57,000 during February. e. Paid expenses as follows: wages, $21,600; rent, $6,400; utilities, $2,800; and miscellaneous, $3,200. f. Paid dividends of $8,000.                           Part 2:                        Record the adjustments at the end of February to record the insurance expense and supplies expense. There was $300 of supplies on hand as of February 28.  Identify the adjustment for insurance as (a1) and supplies as (a2).                  Enter the Net income under the Income Statement column after recording both adjustments.             Statement of Cash Flows a. Financing…

During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation, completed the following transactions. Began business by making a deposit in a company bank account of $60,000, in exchange for 6,000 shares of $10 par value common stock. July 1 July 3 Paid the current month's rent, $3,500 July 5 Paid the premium on a 1-year insurance policy, $4,200 July 7 Purchased supplies on account from Little Company, $1,000. July 10 Paid employee salaries, $3,500 July 14 Purchased equipment from Lake Company, $10,000. Paid $2,500 down and the balance was placed on account. Payments will be $500.00 per month until the equipment is paid. The first payment is due 8/1. Note: Use accounts payable for the balance due. July 15 Received cash for preparing tax returns for the first half of July, $8,000 July 19 Made payment on account to Lake Company, $500. July 31 Received cash for preparing tax returns for the last half of July, $9,000 July 31 Declared and paid cash…