Business, 17.02.2020 22:01, donterriuscollier

Nathanson Corporation was organized on May 1. The following events occurred during the first month.

(a) Received $66,000 cash from the five investors who organized Nathanson Corporation. Each investor received 102 shares of $10 par value common stock.

(b) Ordered store fixtures costing $16,000.

(c) Borrowed $12,000 cash and signed a note due in two years.

(d) Purchased $20,000 of equipment, paying $1,900 in cash and signing a six-month note for the balance.

(e)Lent $1,600 to an employee who signed a note to repay the loan in three months.

(f) Received and paid for the store fixtures ordered in (b).

Required:

Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 16:00, hunterbetterton1

Straight arrow unloaded two tankers worth of toxic waste at an important port in the country of urithmea. a hundred workers worked two days in their shorts and sandals to unload the barrels from the tankers for $5 a day. they were not told about the content of the barrels. some observers felt that it was the obligation of not just the government of urithmea but also of straight arrow to ensure that no harm was done to the workers. these observers are most likely

Answers: 2

continue

Business, 21.06.2019 19:40, muhammadcorley123456

Anew equipment has been proposed by engineers to increase the productivity of a certain manual welding operation. the investment cost is $25,000, and the equipment will have a market value of $5,000 at the end of a study period of five years. increased productivity attributable to the equipment will amount to $10,000 per year after operating costs have been subtracted from the revenue generated by the additional production. if marr is 10%, is investing in this equipment feasible? use annual worth method.

Answers: 3

continue

Business, 22.06.2019 01:50, Kana81

You are an employee of an u. s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u. s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u. s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

Answers: 3

continue

Business, 22.06.2019 20:00, 2965276513

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it. g

Answers: 2

continue

Do you know the correct answer?

Nathanson Corporation was organized on May 1. The following events occurred during the first month.<...