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 2 years ago

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