yusefkh
Apr 23, 2009, 02:52 PM
Could someone tell me how do I record these transactions:
a. Brooke Winston invested $75.000 cash, office equipments with a value of $6.000, and $25.000 of computer equipments in the company in exchange for a common stock.
b. Purchased land worth $27.500 for an office by paying $5.000 cash and signing a long-term note payable for the balance.
c. Purchased a portable biulding with $30.000 cash and moved it onto the land acwuired in b.
d. Paid $7.500 cash for the premium on a three-year insurance policy.
e. Provided services to a client and collected $5.400 cash.
f. Purchased $5.000 of additional computer equipment by paying $2.500 cash and signing a long-term note payable for the balance due.
g. Completed $5.250 of services for a client on credit.
h. Purchased $1.000 of additional office equipments from Yukon Office on credit.
i. Complete services for Johnason and Company for $10.200 on credit.
j. recieved a bill for $650 for rent of a piece of computer equipment used on a recently completed job. The bill is to be paid within 30 days.
k. Received $5.100 from Johanson and Company for work completed in transaction i.
l. Semi-monthly payroll totaled $2.000 and was paid in cash.
m. Paid $1.000 to Yukon Office supply for office equipment purchased in transaction h.
n. Paid $750 for minor repairs on computer equipment.
o. Paid $1.800 cash for advertising.
p. Semi-monthly payroll totaled $2.000 and was paid in cash.
q. Paid $5.000 for dividens.
Using the following T-Accounts:
cash - accounts receivable - Prepaid Insurance - Office Equipments - Computer Equipments - building - land - Accounts Payable - Long-term notes payable - Common stocks - Retained earnings - Fees Earnings - Wages expenses - Computer rental Expenses - Advertising Expenses - Repairs Expense.
Or maybe explain something. Thanks!!
a. Brooke Winston invested $75.000 cash, office equipments with a value of $6.000, and $25.000 of computer equipments in the company in exchange for a common stock.
b. Purchased land worth $27.500 for an office by paying $5.000 cash and signing a long-term note payable for the balance.
c. Purchased a portable biulding with $30.000 cash and moved it onto the land acwuired in b.
d. Paid $7.500 cash for the premium on a three-year insurance policy.
e. Provided services to a client and collected $5.400 cash.
f. Purchased $5.000 of additional computer equipment by paying $2.500 cash and signing a long-term note payable for the balance due.
g. Completed $5.250 of services for a client on credit.
h. Purchased $1.000 of additional office equipments from Yukon Office on credit.
i. Complete services for Johnason and Company for $10.200 on credit.
j. recieved a bill for $650 for rent of a piece of computer equipment used on a recently completed job. The bill is to be paid within 30 days.
k. Received $5.100 from Johanson and Company for work completed in transaction i.
l. Semi-monthly payroll totaled $2.000 and was paid in cash.
m. Paid $1.000 to Yukon Office supply for office equipment purchased in transaction h.
n. Paid $750 for minor repairs on computer equipment.
o. Paid $1.800 cash for advertising.
p. Semi-monthly payroll totaled $2.000 and was paid in cash.
q. Paid $5.000 for dividens.
Using the following T-Accounts:
cash - accounts receivable - Prepaid Insurance - Office Equipments - Computer Equipments - building - land - Accounts Payable - Long-term notes payable - Common stocks - Retained earnings - Fees Earnings - Wages expenses - Computer rental Expenses - Advertising Expenses - Repairs Expense.
Or maybe explain something. Thanks!!