Calculate the unknown amounts appearing in each column. C eginning $50.000 $45.000 Assets $55.000 30.000 10.000 Liabilities 45.000 Enaing Assets $54.000 $42.000 $48.000 ? 20.000 15.000 Liabilities During Year Sales revenue ? $42.000 $42.000 35.000 13.000 25.000 Expenses 1,000 Dividends 1,500 -6. Prepare journal entries for the following events during the month of November. I) Stockholders invested $50,000 cash in the business in exchange for common stock. 2 Purchased two desktop computers, software, and a printer for $5,000 cash. 3) Paid $2.000 cash for rent on an office for the month of November 4 Purchased an advertisement in a local newspaper for $500 cash, announcing the ope new business. 5) Paid $3,000 cash for wages of an employee. 6) Received $2,000 cash from customers for the sales previously completed. 7) Paid $500 cash toward the company's accounts payable balance. n iournal entries. 6dertising expense

Calculate the unknown amounts appearing in each column. C eginning $50.000 $45.000 Assets $55.000 30.000 10.000 Liabilities 45.000 Enaing Assets $54.000 $42.000 $48.000 ? 20.000 15.000 Liabilities During Year Sales revenue ? $42.000 $42.000 35.000 13.000 25.000 Expenses 1,000 Dividends 1,500 -6. Prepare journal entries for the following events during the month of November. I) Stockholders invested $50,000 cash in the business in exchange for common stock. 2 Purchased two desktop computers, software, and a printer for $5,000 cash. 3) Paid $2.000 cash for rent on an office for the month of November 4 Purchased an advertisement in a local newspaper for $500 cash, announcing the ope new business. 5) Paid $3,000 cash for wages of an employee. 6) Received $2,000 cash from customers for the sales previously completed. 7) Paid $500 cash toward the company's accounts payable balance. n iournal entries. 6dertising expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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