Question

In: Accounting

Record each of the following Fred Co. events in T-accounts: a. Received $11,500 cash by issuing...

Record each of the following Fred Co. events in T-accounts:

a. Received $11,500 cash by issuing common stock.

CASH , COMMON STOCK

Debit Credit , Debit Credit
_____ ______ , ______ ______

b. Purchased supplies for $620 cash.

CASH , SUPPLIES

Debit Credit , Debit Credit
_____ ______ , ______ ______



c. Purchased land for $9,700 cash.

CASH , LAND

Debit Credit , Debit Credit
_____ _____ , ______ _____



d. Performed services for $4,400 cash.

CASH , SERVICE REVENUE

Debit Credit , Debit Credit
____ ______ , ______ ______

Solutions

Expert Solution

a
Cash Common Stock
Debit Credit Debit Credit
11500 0 0 11500
b
Cash Supplies
Debit Credit Debit Credit
0 620 620 0
c
Cash Land
Debit Credit Debit Credit
0 9700 9700 0
d
Cash Service revenue
Debit Credit Debit Credit
4400 0 0 4400

ekkarill92 answered 3 years ago
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