EZ Curb Company completed the following transactions during 2010. The annual acc

Question

EZ Curb Company completed the following transactions during 2010. The annual accounting period ends December 31, 2010.

Purchased merchandise on account at a cost of $14,000. (Assume a perpetual inventory system.)

Received $40,000 from National Bank after signing a 12-month, 6 percent, promissory note.

Rented out a small office in a building owned by EZ Curb Company and collected six months

EZ Curb Company completed the following transactions during 2010. The annual accounting period ends December 31, 2010.

Explanation / Answer

1.purchase dr 14000 to creditors 14000 2.creditors dr 14000 to cash 14000 3.cash dr 40000 to loan payable40000 4.purchase dr 18000 to creditors 18000 5.creditors dr 18000 to cash 18000 6 cash a/c dr 6000 to rent in advance 6000 7.cash dr 100 to customer 100 8.profit and loss dr6500 to wages payable 6500

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.