Category: Journal Entry Examples

Q50. Review questions 5 (1) Entity A issued 20,000 shares of common stock at $26 per share. The par value of common stock is $1

Q49. Review questions 4 (1) Entity A issued $800,000 bonds at a discount and received $780,000 in cash. (2) Entity B issued $900,000 bonds at

Q48. Review questions 3 (1) Entity A recorded annual depreciation expense of $4,300. (2) Entity B accrued $9,200 salaries expense to be paid on the

Q47. Review questions 2 (1) On May 2, 20×1, Entity A purchased 600 units of merchandise at $9 per unit and paid $5,400 in cash.

Section 8. Review Q46. Review questions 1 (1) What are the examples of transactions recorded on the debit side of a journal entry? (2) What

Q45. Cash dividend (1) On January 10, 20×1, Entity A declared a $1.50 per share cash dividend on 500,000 shares of common stock. (2) On