Business, 25.08.2020 14:01, sjsmith21

On October 1st, a company received $30,000 in cash and a building worth $200,000, and in return, issued common stock to an investor. Create the complete journal entry and post to the appropriate T-accounts.

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answered: leannehounschell

1. Journal:

October 1:

Debit Cash $30,000

Debit Building $200,000

Credit Common Stock $230,000

To record the receipt of cash and building for common stock.

2. T-accounts:

Cash Account

Date Description Debit Credit Balance

Oct. 1 Common Stock $30,000 $30,000

Building Account

Oct. 1 Common Stock $200,000 $200,000

Common Stock

Oct. 1 Cash $30,000 $30,000

Oct. 1 Building $200,000 $200,000

Explanation:

Journal entries show the accounts to be debited and credited respectively. They are the initial records of a business transaction. They can be used to post any transaction, make adjustments to the accounts, and close the accounts at the end of the accounting period.

answered: Guest

Probably not. unless you are a criminal or a thug. now are you one? if not then the answer should be no

answered: Guest

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?

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On October 1st, a company received $30,000 in cash and a building worth $200,000, and in return, iss...