Borrowed $22 cash on July 1, 2018, signing a six-month note payable.Purchased equipment for $25 cash on July 2, 2018.Issued additional shares of common stock for $5 on July 3.Purchased software on July 4, $3 cash.Purchased supplies on July 5 on account for future use, $7.Recorded revenues on December 6 of $55, including $8 on credit and $47 received in cash.Recognized salaries and wages expense on December 7 of $30; paid in cash.Collected accounts receivable on December 8, $9.Paid accounts payable on December 9, $10.Received a $3 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Amortization for 2018, $1.Supplies of $3 were counted on December 31, 2018.Depreciation for 2018, $4.Accrued interest of $1 on notes payable.Salaries and wages incurred but not yet paid or recorded, $3.Income tax expense for 2018 was $4 and will be paid in 2019.What is the transaction for all of these?

Name: Borrowed $22 cash on July 1, 2018, signing a six-month note payable.Pu
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Description: Borrowed $22 cash on July 1, 2018, signing a six-month note payable.Purchased equipment for $25 cash on July 2, 2018.Issued additional shares of common stock for $5 on July 3.Purchased software on July 4, $3 cash.Purchased supplies on July 5 on accou

The corporation requires recording its day-to-day business-related transactions of monetary terms in…

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 13P: Reversing Entries Thomas Company entered into two transactions involving promissory notes and...

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Borrowed $22 cash on July 1, 2018, signing a six-month note payable.
Purchased equipment for $25 cash on July 2, 2018.
Issued additional shares of common stock for $5 on July 3.
Purchased software on July 4, $3 cash.
Purchased supplies on July 5 on account for future use, $7.
Recorded revenues on December 6 of $55, including $8 on credit and $47 received in cash.
Recognized salaries and wages expense on December 7 of $30; paid in cash.
Collected accounts receivable on December 8, $9.
Paid accounts payable on December 9, $10.
Received a $3 cash deposit on December 10 from a hospital for a contract to start January 5, 2019.

Amortization for 2018, $1.
Supplies of $3 were counted on December 31, 2018.
Depreciation for 2018, $4.
Accrued interest of $1 on notes payable.
Salaries and wages incurred but not yet paid or recorded, $3.
Income tax expense for 2018 was $4 and will be paid in 2019.

What is the transaction for all of these?

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