Common stock

Q44. Common stock Entity A issued 20,000 shares of common stock at $14 per share. The par value of common … More

Borrowings

Q43. Borrowings Entity A borrowed $20,000 from a bank and received the full amount in cash. The loan is due … More

Sale of noncurrent assets

Q42. Sale of noncurrent assets Entity A sold equipment with the following information. (a) Cost of equipment = $200,000 (b) … More

Depreciation

Q41. Depreciation On January 1, 20×1, Entity A purchased a building with the following information. (a) Cost of building = … More

Purchase of noncurrent assets

Q40. Purchase of noncurrent assets Entity A purchased a building at $860,000 with a long-term bank loan of $860,000. Prepare … More

Unearned revenue

Q39. Unearned revenue On December 1, 20×1, Entity A received $600 for a one-year subscription for twelve issues of a … More