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ACC - Salisbury Company Problem

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Question;Prepare the necessary journal entries for each of the transactions presented below for the Salisbury Company.a. Salisbury Company sold 2,000 shares of common stock at $25 per share in cash.b. The company purchased equipment for $8,000, paying $2,000 in cash and the remainder in a note.c. The company paid the current month?s rent, which amounted to $700, and the current month?s utilities, which amounted to $300.d. Merchandise inventory costing $2,500 was sold on account for $4,800.e. Depreciation on the equipment amount to $900.

 

Paper#44242 | Written in 18-Jul-2015

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