i need these transaction posted a general journal. 1. investor contributed 2 million cash to purchase...

i need these transaction posted a general journal.

1. investor contributed 2 million cash to purchase a share of your company which you record as common stock.

2. signed a 10 year note for a 1.5 million bank with 4 % annual interest

3. received $2000 rent payment from renter for April rental. they are late it is now may.

4. paid $2000 wage owed to employees for work last month

5.recieved $100 cash for service conduct last month

6. paid $50 utilities expense that was invoiced and expensed in last month

Expert Solution

Dear Student,
Detailed solution is provided in the image format, please go through the image.
Thank you

Please do not forget to like the answer if you find it useful. It encourages me to help the students by answering further questions.

ekkarill92 answered 2 years ago

1. Prepare general journal entries to record these transactions. (Explanations are not required.) 2. Posted...

1. Prepare general journal entries to record these transactions. (Explanations are not required.) 2. Posted the above items to the ledger T-accounts. 3. Prepare a Trial Balance for Truman Services at May 31, 2020. Truman Services organized and opened for business on May 1st. During the month the company completed the following transactions: On May 1, The company received an initial investment of $25,000 cash and $10,000 of computer equipment for common stock. On May 2, paid $600 cash...

General Journal of Smith Ltd – the two journal entries that have yet to be posted:...

General Journal of Smith Ltd – the two journal entries that have yet to be posted: Date General ledger account name affected by the transaction: Dr Cr 29/3/19 Dr Machinery 450 000 Cr Loan payable 450 000 ( to record the purchase of machinery) 29/3/19 Dr Cash 50 000 Dr Accumulated depreciation - machinery 470 400 Dr Loss on sale 19 600 Cr Machinery 540 000 ( to record the sale of an item of machinery) A GENERALLEDGER (GL)contains ALL...

Case 2 (Ms. Brown continued, I need answers typed please I posted case 1 in the...

Case 2 (Ms. Brown continued, I need answers typed please I posted case 1 in the end if you need it). Patient: Brown, Francine DOB: 04/25/44 Medical Record Number: 09052016 Allergies: NKA Precautions: Fall Height: 5’ 2” Weight: 60.4 kg Ms. Brown condition improves, and she is discharged home after her admission to the hospital for her CVA. She has residual right-sided weakness in her arm and leg and a right-sided visual field cut. Ms. Brown is prescribed the following...

No Transaction General Journal Debit Credit 1 a. Raw materials inventory 220,000 Accounts payable 220,000 2...

No Transaction General Journal Debit Credit 1 a. Raw materials inventory 220,000 Accounts payable 220,000 2 b. Work in process inventory 131,700 Factory overhead 21,500 Raw materials inventory 153,200 3 c. Factory overhead 15,500 Cash 15,500 4 d. Work in process inventory 103,700 Factory overhead 25,000 Cash 128,700 5 e. Work in process inventory 179,000 Factory overhead 179,000 6 f. Finished goods inventory 359,700 Work in process inventory 359,700 7 g(1). Accounts receivable 530,000 Sales 530,000 8 g(2). Cost of...

please write special journals: sales journal, PURCHASES JOURNAL,CASH RECEIPTS JOURNAL,CASH PAYMENTS JOURNAL Week 1 Date Transaction...

please write special journals: sales journal, PURCHASES JOURNAL,CASH RECEIPTS JOURNAL,CASH PAYMENTS JOURNAL Week 1 Date Transaction description 1 Obtained a loan of $48,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2018 and the principal of the loan is to be repaid on 1 June 2021. 2 Sold 9 boxes of Sprearmint Gum to Sweet Tooth for $100 each, Invoice No. 201. 3 Purchased 17...

Prepare the general journal entries: 1) June 1 : Purchase supplies on account, $500. 2) June...

Prepare the general journal entries: 1) June 1 : Purchase supplies on account, $500. 2) June 3: Purchase 200 units of inventory with cash. 3) June 5: Provide 30 hours of services to customers for cash (calculate using your hourly service rate). 4) June 9: Sell 200 units of inventory on account. 5) June 12: Sell 50 units of inventory to a customer on account with a sales discount of 2/10, n/30. 6) June 14: Purchase an additional 100 units...

Part 2 – General Journal (LO3-2) – Post the following journal entries to the general journal....

Part 2 – General Journal (LO3-2) – Post the following journal entries to the general journal. ? Trans: May 1 Sell 100,000 shares of common stock for $100,000 to obtain the funds necessary to start your business. ? May 1 Borrow $50,000 from the bank and sign a note promising to repay the full amount of the debt in 5 years. ? May 1 Issue 1,000 shares of $2 par value preferred stock at $30/share. ? May 1 ? Purchase...

An investor would like to purchase a new apartment property that costs $2 million with an...

An investor would like to purchase a new apartment property that costs $2 million with an initial year NOI of $190,000, and an expected growth rate of 3% per year (in income and value). The building and improvements represent 80% of value and will be depreciated over (1 ÷ 27.5 per year). Assume a 36% tax bracket for all income and capital gains taxes. The investor faces the decision of whether to use 70% or 80% financing. The 70% loan...

Transaction Fund/Activity General Journal Debit Credit 1. Received in the computers and the accompanying liability. 1...

Transaction Fund/Activity General Journal Debit Credit 1. Received in the computers and the accompanying liability. 1 Record the receipt of computers and the accompanying liability. Record payment made. 2. Received in the payment made for computers. 2 Record payment made for computers. Record entry to remove encumbrance for computers that has now been received. Record the receipt of computers and the accompanying liability. Record payment made.

prepare general journal for the following Transaction Date Description 1 July 1 Began her business by...

prepare general journal for the following Transaction Date Description 1 July 1 Began her business by contributing a computer valued at $500 and rug cleaner at $6,200 and depositing $2X,XXX (XXXX- represents 0000) in a checking account in the name of the corporation in exchange for 6,000 shares, $1 par value shares of capital stock. 2 1 Received $10,000 proceeds from an unsecured, 11%, 5 year, interest only bank loan, due July 1, 2017. The proceeds will be used to...

Question