[gabbyzoey09]

Adividend of 600 was debited to Wages expense for 600 and credited to Cash for 600 what will be the adjusting entries?

I need your help with the journal entries
1-Aug Kendra Greco begins practice as a dentist & invests $20,000 cash
2 Purchases furniture and dental equipment on account from Weller Co. for$17,280
4 Pays rent for office space, $680 for the month
4 Employs a receptionist, Nina Ricci
5 Purchases dental supplies for cash $942.
8 Receives cash of $1,690 from patients for services performed.
10 Pays miscellaneous office expenses $430
14 Bills patients $5,120 for services performed
18 Pays Weller Co. on account $3,600
19 Withdraws $3,00 cash from this business for personal use
20 Receives $980 from patients on account
25 Bills patients $2,110 for services performed.
30 Pays the following expenses in cash:office salaries,$1,400; misc.office expenses,$85.
30 Dental supplies used during August, $330.

thanks for the help.

Kendra G, Capital 20,000
Cash 20,000

Weller Co. Capital 17,280
Accts. Payable-furniture/Equip. 17,280

Rent Expense 680
Cash 680

No Posting when hiring someone

Supplies-Dental Supplies 942
Cash 942

Cash 1,690
Dental Fees Earned 1690

Misc. Expense 430
Cash 430


*Dental Services 5,120
Acct Recievable-Patients 5,120

Accts Payable 3,600
Weller Co,Capital 3,600

Kendra G, Capital 300
Cash 300

Acct Recievable 980
"For What"

" "

Office Salaries Expense 1,400
Misc. Office expense 85
Cash 1,485

Dental Supplies Expense 330
Cash 330

Thanks to you

I have a question:
Susan & Elvira formed S&E Co.in 2009.Susan contributed a building with a FMV of $97,000, a mortgage of $75,000 and an adjusted basis of $50,000 in return for 22 shares of S&E Company stock.(S&E assumed the mortgage)Elvira contirbuted land wth a FMV of $22,000 and an adjusted basis of $40,000 in return for 12 shares of S&E company stock and $10 $1,000 bonds. Cassy performed legal and accounting work during the incorporation process in return for six shares of stock.
My question is :Determine the tax consequences of the transfers to all parties.
Thanks.Hope you can help me.

I hope you can help me with these;Here's the problem:
Anne Curtis is a 40% shareholder in Milby Inc. a theatrical supplies company.She transfers a fully depreciated car with a value of $2,000 to the corporation, but does not receive any consideration for it.
A. What are the tax consequences to Anne?
B. What are the tax consequences to the corporation?
C. What if any, changes if Anne received another 10 percent stock interest for the car?

Thanks for those who will help.

Here's the problem:

In 2007, Toni Gonzaga transferred a machine with a FMV of $30,000 and an adjusted basis of $40,000 to JLC Corporation in return for 60 shares of stock. The stock qualified as Code Sec.1244 stock and the transfer qualified under Code Sec.351. In 2009, JLC Corporation liquidated due to bankcruptcy and Toni's stock became worthless.
A. What is Toni's tax position in 2009?


Thanks.

Here's the problem:

In 2007, Toni Gonzaga transferred a machine with a FMV of $30,000 and an adjusted basis of $40,000 to JLC Corporation in return for 60 shares of stock. The stock qualified as Code Sec.1244 stock and the transfer qualified under Code Sec.351. In 2009, JLC Corporation liquidated due to bankcruptcy and Toni's stock became worthless.
A. What is Toni's tax position in 2009?


Thanks.

I hope you can help me with these;Here's the problem:
Anne Curtis is a 40% shareholder in Milby Inc. a theatrical supplies company.She transfers a fully depreciated car with a value of $2,000 to the corporation, but does not receive any consideration for it.
A. What are the tax consequences to Anne?
B. What are the tax consequences to the corporation?
C. What if any, changes if Anne received another 10 percent stock interest for the car?

Thanks for those who will help.

[ROLCAM]

Sorry we don't do homework

**edited since we don't do homework , fc

[AtlantaTaxExpert]

This sounds very much like a question from a college tax course. If so, my answering it defeats the purpose of you taking the course, which is to learn.

[Fr_Chuck]

I have merged all of your questions, we don't do homework answers
"right rolcam " since doing so is against the rules.

[breynoldsitt]

If you *** clowns don't want to answer then move on to the next question. FUAC