A company purchased inventory in the amount of $10,000 and paid cash. Prepare the general journal entry.
DEBIT: Inventory for $10,000; CREDIT: Cash for $10,000
DEBIT: Cash for $10,000; CREDIT: Inventory for $10,000
DEBIT: Inventory for $10,000; CREDIT: Cost of Goods Sold for $10,000
DEBIT: Cost of Goods Sold for $10,000; CREDIT: Inventory of $10,000
SAVE ANSWER SKIP QUESTION I AM FINISHED/SUBMIT FO
At the end of the year, there is $6,800 worth of employee wages that have been earned by the employees, but not yet paid. Record the adjusting journal entry.
DEBIT: Wages Payable for $6,800; CREDIT: Wage Expense for $6,800
DEBIT: Cash for $6,800; CREDIT: Wage Expense for $6,800
DEBIT: Wage Expense for $6,800; CREDIT: Cash for $6,800
DEBIT: Wage Expense for $6,800; CREDIT: Wages Payable for $6,800
A company issued 500 shares of stock with a par value of $1/share at $20/share. Prepare the general journal entry.
DEBIT: Common Stock for $500 and Additional Paid in Capital for $9,500; CREDIT: Cash for $10,000
DEBIT: Cash for $10,000; CREDIT: Common Stock for $500 and Additional Paid in Capital for $9,500
DEBIT: Cash for $10,000; CREDIT: Common Stock for $9,500 and Additional Paid in Capital for $500
DEBIT: Cash for $10,000; CREDIT: Common Stock for $10,000.