utions. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY

Bramble Corporation was organized on January 1, 2022. It is authorized to issue 10,500 shares of 8%, $100 par value preferred stock, and 477,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Mar. 1 Apr. May Aug. Issued 75,500 shares of common stock for cash at $4 per share. Issued 5,650 shares of preferred stock for cash at $105 per share. Issued 25,000 shares of common stock for land. The asking price of the land was $86,500. The fair value of the land was $83,000. Issued 84,500 shares of common stock for cash at $4.25 per share. 1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $41,000 for services performed in helping the company organize. Issued 10,000 shares of common stock for cash at $6 per share. 1 Issued 2,500 shares of preferred stock for cash at $111 per share. Sept. Nov. 1 1 1

Drawing is recorded in the Balance Sheet Credit column of a worksheet True or false

The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable! Deferred Revenue Common Stock Retained Earnings Totals Debits $25,500 16,300 13,800 157,000 $212,600 Credits $7,600 6,700 Pay property taxes, $9,400. Pay on accounts payable, $12,300. 152,000 46,300 $212,600 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $143,100, and on account, $56,700. Collect on accounts receivable, $52,400. Receive cash in advance from customers, $13,800.. Purchase supplies on account, $11,000. Pay salaries, $132,600. Issue shares of common stock in exchange for $36,000 cash. Pay $3,700 cash dividends to stockholders. Insurance expired during the year is $7,900. Supplies remaining on hand at the end of the year equal $3,800.…

Asked this question before but the answer does not allow me to scroll and see the account titles and debit/credit. Only shows a grid.

Journal entry: If a company uses the ALLOWANCE method for valuing Accounts Receivable on the balance sheet, what will the journal entry be (with out amounts) at the end of the accounting period. Journal: Debit Account Credit Account

The following comments each relate to the recording of journal entries. Which statement is true? Question 1 Select one: a. Journalization is the process of converting transactions and events into debit/credit format. b. For any given journal entry, debits must exceed credits c. The chart of accounts reveals the amount to debit and credit to the affected accounts d. It is customary to record credits on the left and debits on the right

During the current year ended December 31, Rank Company disposed of three different assets. On January 1 of the current year, prior to their disposal, the asset accounts reflected the following: Asset Machine A Machine B Machine C a. Machine A. b. Machine B. c. Machine C. The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $6,750 cash. b. Machine B: Sold on December 31 for $8,000; received cash, $2,000, and a $6,000 interest-bearing (10 percent) note receivable due at the end of 12 months. c. Machine C: On January 1, this machine suffered irreparable damage from an accident and was scrapped. Required A Required: 1. Give all journal entries related to the disposal of each machine in the current year. Original Cost Residual Value $24,000 16,500 59,200 Complete the following questions by preparing worksheet and journal entries given below. View transaction list Required B Required C 1 Journal entry worksheet Give all journal…

Instructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.

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