Response to the following problem:
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions
1. the company issues the ordinary shares in exchange for 25000 euro cash
2. purchased 400$ of supplies on credit.
3. purchased equipment for euro10000, paying euro 3000 in cash and signed a 30 day, euro 7000, note payable.
4. real estate commissions billed to client amount to euro 4000.
5. paid euro 700 in cash for the current month's rent.
6. paid euro 200 cash on account for supplies purchased in transaction 2.
7. received a bill for euro 600 for advertising for current month.
8. paid euro 2200 cash for salaries.
9. the company paid dividends of euro 1200.
10. received a check for euro 3000 from a client in payment on account for commission billed in transaction.
At September 1, the statement of financial position accounts for Stanley's Restaurant were as follows:
Accounts Payable $ 0 Land $33,000
Accounts Receivable 11,600 Share Capital-Ordinary ?
Buildings 68,000 Notes Payable 48,000
Cash 10,000 Supplies 6,600
Equipment 18,700
Instructions:
Prepare a statement of financial position at September 3, 2017.