Exercise 248 Transactions for the Hartman Company for the month of November are
ID: 2416425 • Letter: E
Question
Exercise 248 Transactions for the Hartman Company for the month of November are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations. . Stockholders invested an additional $40,000 cash in the business. 2. Purchased land costing $18,000 for cash . Purchased equipment costing $45,000 for $4,500 cash and the remainder on credit. . Purchased supplies on account for $800. 5. Paid $3,000 for a one-year insurance policy. 6Received $2,000 cash for services performed. 7. Received $5,000 for services previously performed on account. 8Paid wages to employees for $2,500. 9. Paid dividends to stockholders of $400 Journalize each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Question Attempts: 0 of 1 used RAVEFOR LATER Cogynght © 2000-2016 by Jehh wdey & Sons, Inc. or related compares. All rots reserved.Explanation / Answer
1) Cash (db) 40,000
Stock holder equity (cr) 40,000
2)land(db) 18,000
cash (cr)18,000
3)quipment (db) 45,000
cash (cr)4,500
account payable (cr) 40,500
4)supplies(db) 800
Account payable (cr) 800
5)preapid expense -insurance (db)3,000
cash (cr) 3,000
6)cash (db) 2000
revenue (cr) 2000
7)cash (db) 5000
account receivable (cr) 5000
8)cash (cr) 2500
wage expense (db) 2500
9)cash (cr)400
dividends (db) 400
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