Using Financial Accounting Information
10th Edition
ISBN: 9781337276337
Author: Porter, Gary A.
Publisher: Cengage Learning,
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Chapter 3, Problem 3.11MCP
To determine
Concept Introduction:Journal entries are part of basic accounting or primary system of accounting. In journal entries there are two aspects one is debit and another is credit. These two aspects are always equal. Journal entries are base on the ledger and
To Prepare:
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Transactions for the first 3-month period of calendar year 2021 for Sta Cruz Branch of XYZ
Company.
1. Home Office put up a branch with initial investment of cash 400,000; and equipment
180,000, and furniture & fixtures, 100,000, both to be booked in the branch.
2. Home office purchased equipment for use by the branch and to be carried in the Home
Office books. Acquisition cost is 80,000.
3. Branch purchased 160,000 worth of merchandise for 50% cash and balance on account.
Delivery charge of 3,000 paid by the branch.
4. Home Office ordered office table and chairs worth 20,000 to be carried in branch books.
The branch paid cash for the items upon delivery directly to the branch. Delivery charge
of 800 was also paid by the branch.
5. Branch purchased computers and printers worth 110,000 for use of the branch and to
be booked in the Home Office.
6. Home Office transferred merchandise worth 320,000. Home Office paid for the freight
of 5,000 to be taken up in branch books.
7. Branch total…
Transactions for the first 3-month period of calendar year 2021 for Sta Cruz Branch of XYZ Company.
Home Office put up a branch with initial investment of cash 400,000; and equipment 180,000, and furniture & fixtures, 100,000, both to be booked in the branch.
Home office purchased equipment for use by the branch and to be carried in the Home Office books. Acquisition cost is 80,000.
Branch purchased 160,000 worth of merchandise for 50% cash and balance on account. Delivery charge of 3,000 paid by the branch.
Home Office ordered office table and chairs worth 20,000 to be carried in branch books. The branch paid cash for the items upon delivery directly to the branch. Delivery charge of 800 was also paid by the branch.
Branch purchased computers and printers worth 110,000 for use of the branch and to be booked in the Home Office.
Home Office transferred merchandise worth 320,000. Home Office paid for the freight of 5,000 to be taken up in branch books.
Branch total sales to date on…
Prepare the journal entry for the following transaction.
Apr. 15 Last year, Titan Corporation's board of directors appropriated $150,000 for the purchase of a new storage facility over a three-
year period. This year's appropriation for $50,000 was made on this date.
If an amount box does not require an entry, leave it blank.
POST.
DATE
DESCRIPTION
DEBIT CREDIT
REF.
1 Apr. 15
2
Chapter 3 Solutions
Using Financial Accounting Information
Ch. 3 - Prob. 3.1ECh. 3 - Prob. 3.2ECh. 3 - Prob. 3.3ECh. 3 - Prob. 3.4ECh. 3 - Prob. 3.5ECh. 3 - Prob. 3.6ECh. 3 - Prob. 3.7ECh. 3 - Prob. 3.8ECh. 3 - Prob. 3.9ECh. 3 - Prob. 3.10E
Ch. 3 - Prob. 3.11MCECh. 3 - Prob. 3.12MCECh. 3 - Prob. 3.13MCECh. 3 - Prob. 3.14MCECh. 3 - Prob. 3.15MCECh. 3 - Prob. 3.16MCECh. 3 - Prob. 3.17MCECh. 3 - Prob. 3.18MCECh. 3 - Prob. 3.1PCh. 3 - Prob. 3.2.1PCh. 3 - Prob. 3.2.2PCh. 3 - Prob. 3.2.3PCh. 3 - Prob. 3.2.4PCh. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Prob. 3.3.2PCh. 3 - Prob. 3.3.3PCh. 3 - Prob. 3.3.4PCh. 3 - Prob. 3.4PCh. 3 - Prob. 3.5.1MCPCh. 3 - Prob. 3.5.2MCPCh. 3 - Prob. 3.5.3MCPCh. 3 - Prob. 3.6.1MCPCh. 3 - Transaction Analysis and Financial Statements Blue...Ch. 3 - Prob. 3.6.3MCPCh. 3 - Prob. 3.6.4MCPCh. 3 - Prob. 3.7.1MCPCh. 3 - Prob. 3.7.2MCPCh. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Prob. 3.8MCPCh. 3 - Prob. 3.9.1MCPCh. 3 - Problem 3-9 Transaction Analysis and Journal...Ch. 3 - Prob. 3.10.1MCPCh. 3 - Prob. 3.10.2MCPCh. 3 - Prob. 3.10.3MCPCh. 3 - Prob. 3.10.4MCPCh. 3 - Prob. 3.11MCPCh. 3 - Prob. 3.12.1MCPCh. 3 - Prob. 3.12.2MCPCh. 3 - Prob. 3.13.1MCPCh. 3 - Prob. 3.13.2MCPCh. 3 - Prob. 3.14.1MCPCh. 3 - Prob. 3.14.2MCPCh. 3 - Prob. 3.14.3MCPCh. 3 - Prob. 3.14.4MCPCh. 3 - Prob. 3.14.5MCPCh. 3 - Prob. 3.15.1MCPCh. 3 - Prob. 3.15.2MCPCh. 3 - Prob. 3.15.3MCPCh. 3 - Prob. 3.15.4MCPCh. 3 - Prob. 3.1AAPCh. 3 - Prob. 3.2.1AAPCh. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Prob. 3.3.1AAPCh. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Transaction Analysis and Financial Statements...Ch. 3 - Prob. 3.3.4AAPCh. 3 - Prob. 3.4AAPCh. 3 - Prob. 3.5.1AAMCPCh. 3 - Prob. 3.5.2AAMCPCh. 3 - Prob. 3.5.3AAMCPCh. 3 - Prob. 3.6.1AAMCPCh. 3 - Prob. 3.6.2AAMCPCh. 3 - Prob. 3.7.1AAMCPCh. 3 - Prob. 3.7.2AAMCPCh. 3 - Prob. 3.8AAMCPCh. 3 - Prob. 3.9.1AAMCPCh. 3 - Prob. 3.9.2AAMCPCh. 3 - Prob. 3.10.1AAMCPCh. 3 - Prob. 3.10.2AAMCPCh. 3 - Prob. 3.10.3AAMCPCh. 3 - Prob. 3.10.4AAMCPCh. 3 - Prob. 3.11AAMCPCh. 3 - Prob. 3.12.1AAMCPCh. 3 - Prob. 3.12.2AAMCPCh. 3 - Prob. 3.13.1AAMCPCh. 3 - Prob. 3.13.2AAMCPCh. 3 - Prob. 3.14.1AAMCPCh. 3 - Prob. 3.14.2AAMCPCh. 3 - Prob. 3.15.1AAMCPCh. 3 - Prob. 3.15.2AAMCP
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