Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N
Prvide jnal entries to reord ech of the follewing tran os. For each ninthe captetter onty, identely whether the transaction represents a sure of cash Sa u of cnh (, ar meither (N PLEASE NOTE All whale dellar munts will bewithsand commasneded a S12345. For the joumal entry, yeu must enter the sunt names ctly written bekew nd for sunts having simlar secounting trestment (DR or CR, you ae te recend Blance Sheet scounts first, fellowed by Income Statement secounts Ch Irack Land Lom on Sale f Land Dividnd Gain on Sale of Land Accounts eceivable Common Stock Note Payale Declared ard paid to hareholdersa dividend of $24000. DR Tramaton- Seare of cash S Ue of cah (U or Nither N hnd common stock at pr val for S12000 DR Tramaton- Seare of cash S Ue of cah (U or Nither N Sald a tract of land that had cont St0.000, for $16.0o0. DR DRor C Tramaton- Seare of cash S Ue of cah (U or Nither N Parthaeda company trk, with a rete pyable of S3R000 DR Trarnaton Seree of cash S Uve of cah (U or Nither N Calected S000 rom tomer unts reoivae DR Tramaton- Seare of cash S Ue of cah (U or Nither N
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Provide journal entries to record each of the following tranuctiona. For each, using the capital letter only, identity whether the transaction represents a sourcE of cash SL a use of canh (U), ar neither (NL
PLEASE NOTE: All whale dollr amounts will be with "$"and commas as needed ie. $12,345). Far the journal entry, you mut enter the account names exactly an written balow and for acounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, fallowed by Income Statement account.
Canh
Truck
Land
Lom on Sale of Land
Dividends
Gain on Sale of Land
Accounts Receivable
Common Sock
Note Payalale
Declared and paid to sharcholders, a dividend of $24,000.
DR
Trarnaction - Source of cash SL Use of cash (UL or Neither (N).
haund comman stock at par value for $12,000
DR
Trarnaction - Source of cash SL Use of cash (UL or Neither (N.
Sald a tract of land that had coat $10,000, for $16.000.
DR
DR C
Trarnaction - Source of cash (SL Use of cash (U or Neither (N)
Purchaed a cnmpany truck, with a note payable of $38,000.
DR
Trarnaction - Source of cash (Sl Use of cash (U, or Neither (N)
Collected Sa000 from cutomer acounts receivalble.
DR
Trarnaction - Source of cash (SL Use of cash (U or Neither (N)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff486ffb0-06e2-49a8-b83f-a9000215a6ef%2F6a6be821-afa9-4fe6-a5e6-f74c311412ef%2Fl15snjn_processed.png&w=3840&q=75)
Transcribed Image Text:Provide journal entries to record each of the following tranuctiona. For each, using the capital letter only, identity whether the transaction represents a sourcE of cash SL a use of canh (U), ar neither (NL
PLEASE NOTE: All whale dollr amounts will be with "$"and commas as needed ie. $12,345). Far the journal entry, you mut enter the account names exactly an written balow and for acounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, fallowed by Income Statement account.
Canh
Truck
Land
Lom on Sale of Land
Dividends
Gain on Sale of Land
Accounts Receivable
Common Sock
Note Payalale
Declared and paid to sharcholders, a dividend of $24,000.
DR
Trarnaction - Source of cash SL Use of cash (UL or Neither (N).
haund comman stock at par value for $12,000
DR
Trarnaction - Source of cash SL Use of cash (UL or Neither (N.
Sald a tract of land that had coat $10,000, for $16.000.
DR
DR C
Trarnaction - Source of cash (SL Use of cash (U or Neither (N)
Purchaed a cnmpany truck, with a note payable of $38,000.
DR
Trarnaction - Source of cash (Sl Use of cash (U, or Neither (N)
Collected Sa000 from cutomer acounts receivalble.
DR
Trarnaction - Source of cash (SL Use of cash (U or Neither (N)
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