Journal Entry:Issuing Shares for Multiple Assets by Sarah (Miami, FL) Question:How would you write this in a journal entry: a company issued 2,660 shares of its common stock after $31,360 in cash and computer equipment with a fair market value of $43,120 were received....
1. What is a Journal entry? A journal entry is used to record a business transaction in the accounting records of a business. A journal entry is usually recorded in the general ledger; alternatively, it may be recorded in a subsidiaryledgerthat is then summarized and rolled forward into the...
TRADES means the Treasury/Reserve Automated Debt Entry System maintained by the Federal Reserve Bank of New York pursuant to the TRADES Regulations. Close financial association means an association in which the person filing shares significant financial involvement with an individual and the filer would...
For example, when the company spends cash to purchase a new vehicle, the cash account is decreased or credited and the vehicle account is increased or debited.How to Make a Journal EntryHere are the steps to making an accounting journal entry....
I'd like to barge in and reiterate what my colleagues shares in this thread. To view the attached name to the journal entry, you'll have to open the transaction manually. Also, as mentioned by BettyJaneB, the name that you attach on the journal e...
15Purchase supplies on account, $9,200. Septemb Pay property taxes, $8,500. October31,Pay salaries, $123,600. November20Issue shares of common stock in exchange for $27,000cash. December30Pay $2,800cash dividends to stockholde...
Inventory and cost of goods sold Journal Entry ➢Closing entries to record COGS – Periodic method Dr: COGS Dr: Inventory, ending Dr: Purchase allowance Dr: Purchase returns Dr: Purchase discount Cr: Purchases Cr: Freight-in Cr: Inventory, beginning ...
There are roughlyten common transactionsthat occur repeatedly in accounting, each of which has a different journal entry. Below is a brief summary of these transactions and journals. For each of these transactions below I've included a quick description of the transaction, the journal entry, as ...
In general, there are two methods of accounting for treasury stock: Cost Method Par Value Method Under the cost method, the more common approach, the repurchase of shares is recorded by debiting the treasury stock account by the cost of purchase. Here, the cost method neglects the par value...
The purchase cost of the shares was RMB400,000. Required: Calculate the individual income tax (IIT) payable by Mr Lin on each of his items of income ((1) to (8)) for February 2014. State clearly if any item is tax exempt or not taxable. Note: Ignore value added tax and business ...