Accounting

Please prepare the following journal entries. Indicate which account should be debited and which account should be credited along with the dollar amount of the debit and credit.

a) Investors invested $100,000 in exchange for 10,000 shares of common stock.
b) Company paid a utility bill for $600
c) Company received cash of $15,000 for services performed
d) Company made payment on account for $1,000
e) Company received $12,000 for services not yet performed

  1. 👍 0
  2. 👎 0
  3. 👁 293

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Mr. Flores opened an account with a deposit of $5,000 The account earned annual simple interest. He did not make any additional deposits or withdrawals. At the end of 4 years, the balance of the account was $6,500. What is the

  2. math

    How much would you need to deposit in an account now in order to have $20,000 in the account in 4 years? Assume the account earns 5% interest.

  3. math

    suppose you deposit $3000 in a savings account that pays interest in a a rate of 4%. if no money is added or withdrawn from the account, how much will be in the account after ten years.

  4. Principles of Accounting

    E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for common stock. 3 Purchased used car for $4,000

  1. accounting (balance sheet, retained earnings...)

    Problem P3-5A On September 1, 2002, the account balances of Rijo Equipment Repair Corp. were as follows: Nbr: Debits Nbr: Credits 101 Cash $4,880 154 Accumulated depreciation $1,500 112 Accounts receivable 3,520 201 Accounts

  2. Finance

    You are planning to save for retirement over the next 35 years. To do this, you will invest $770 a month in a stock account and $370 a month in a bond account. The return of the stock account is expected to be 9.7 percent, and the

  3. Math

    Luis has $150,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $3000/quarter into the

  4. accounting

    Record the following transactions as general journal entries. Use the gross-price method. Aug. 6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. 8 Bought an $18,000 truck from Pillner Co.,

  1. Math

    JoAnne is depositing money into a bank account. After 3 months there is $150 in the account. After 6 months, there is $300 in the account. Find the constant rate of change of the account.

  2. Accounting

    The Account Cycle Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register

  3. Accouting

    Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week,

  4. Finance

    Bridgette's grandparents opened a savings account for her and placed $500 in the account. The account pays 5.5% interest. Bridgette wants to be a singer and she has her heart set on a new karaoke machine. The machine costs $150.

You can view more similar questions or ask a new question.