Category: Journal Entry Examples

Section 6. Equity Q31. Issuance of common stock Entity A issued 30,000 shares of common stock at $17 per share. The par value of common

Q30. Repayment of bonds payable On November 1, 20×1, Entity A paid $70,000 to pay off bonds payable. The bonds payable had $70,000 book value

Q29. Issuance of bonds payable Entity A issued $200,000 bonds and received $200,000 in cash. Prepare a journal entry to record this transaction. A29. Bonds

Q28. Income taxes payable On December 31, 20×1, Entity A estimated the income taxes expense for 20×1 as $260,000. Prepare a journal entry to record

Q27. Salaries payable Entity A pays salaries on the 20th of each month. Monthly salaries expense is $180,000. On December 20, 20×1, Entity A paid

Q26. Notes payable On December 6, 20×1, Entity A purchased equipment and issued a non-interest-bearing promissory note with the following information. (a) Face amount of