NO.:DATE:6- ACCOUNT MAMEDATEACCOUNT PAYABLEACCOUNT TITLE ANDEXPLANAHONDEBITCREDITJR-THE BUSINESS ACQUIRED DEFICE FQUIPMTENT ANDFURMITHIRE WORT H P25,000 AND P 45,000 RESPECTIVELYPAID PI5I000 CASA AND ISSUED A MOTE PAYABLE FOR THEBALAMCE-PAGE 2GEMERAL JOURNALACCOUMT TITLE ANDEXPLANATIONCREDITDATE2018DEC12.PR DEBITOFFICE EQUIPMENT lo6P 25i000FURNITURE ANDFIXTURS 107CASHNOTES PAYABLE45,000101202P 15,0055,000ACCOUNT NO.ACCOUNT HAMEACCOUNT ANDEx PLANATIONJ.RI DEBITBATECREDIT

5) Journal Entry : Page : 2 Date Account Title PR Debit Credit Dec 12,2018 Equipment 106…

EXPLANAHON JR DEBIT CREDIT - THE BUSINESS ACQUIRED DEFICE FQUIPMTENT AND FURMITHIRE WORTH P251000 AND P 45, 000 RESPECTIVELY PAID PI5I0D CASH AND ISSUEDANOTE PAYABLE FOR THE BALAMCE- PAGE 2 GEMERAL FOUENAL ACCOUMT TITLE AND EXPLANATION CREDIT DATE 2018 DEC12. PR DEBIT lo6 P 25i o00 245,000 OFFICE EQU|PMFNT FURNITURE AND FIXTURS 107 CASH NOTES PAYABLE 101 202 P 15,00 55,000 ACCOMNT NO ACCOUNT HAME ACCOUNT AND Ex PLANATION J.RI PFBIT DATE CREDIT

EXPLANAHON JR DEBIT CREDIT - THE BUSINESS ACQUIRED DEFICE FQUIPMTENT AND FURMITHIRE WORTH P251000 AND P 45, 000 RESPECTIVELY PAID PI5I0D CASH AND ISSUEDANOTE PAYABLE FOR THE BALAMCE- PAGE 2 GEMERAL FOUENAL ACCOUMT TITLE AND EXPLANATION CREDIT DATE 2018 DEC12. PR DEBIT lo6 P 25i o00 245,000 OFFICE EQU|PMFNT FURNITURE AND FIXTURS 107 CASH NOTES PAYABLE 101 202 P 15,00 55,000 ACCOMNT NO ACCOUNT HAME ACCOUNT AND Ex PLANATION J.RI PFBIT DATE CREDIT

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 4RE: Hook Corp. incurred the following start-up costs, all paid in cash: Prepare Hooks journal entry to...

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olo owns a varlety store called Stars Forever. The following are purchases of Inventory, returns, and discounts for the month of March. Purchased $2,000 of merchandtse from Sundance Furmiture on account, Involce 2177, with a 1% trade discount. Credit terms 2/1o, n/30. Pald rent for the month of March. Issued Check 145 for $2,100. Purchased merchandise from Taylor Supplies. Issued Chedk 146 for $1,65o. Purchased $2,400 of merchandise from Fuentes Co. on aCDount, Involce 2178. Credit berms 1/15, /30. Returned $400 of the merchandise from Fuentes Co. Recelved Credit Memorandum 11. Pald Involce 2177 to Sundance Furmiture. 1Issued check 147 for $1,940.40. s Purchased $3,700 of merchandise (Indluded $150 frelght) from Sky Divers Inc. on account, Involce 2179. Credit terms 1/10, n/30, FOB shipping polnt. - Purchased $210 of office supplies from willow Inc. on account, Invoce 2180. Credit terms 2/10, n/30. Pald Involce 2178 to Fuentes Co. Issued Check 148 for $1,980. Pald Involce 2179 to Sky…
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