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Flashcards in Journal Entries Deck (21)
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1
Q

Accrual of Interest

A

Interest Expense

———-Interest Payable

2
Q

Issuing of Bonds (Discount)

A

Cash

  • ———Discounts on Bonds Payable
  • ———Bonds Payable
3
Q

Installment Note

A

Interest Expense
Notes Payable
————Cash

4
Q

Utilities Expense

A

Retained Earnings

————-Utilities Expense

5
Q

Sales

A

A/R

————–Sales

6
Q

Unearned Revenue

A

Unearned Revenue

—————-Sales

7
Q

Interest Expense on Bonds (Premium)

A

Interest Expense
Premium on Bonds Payable
—————-Cash

8
Q

Declaration of a Dividend

A

Retained Earnings

—————-Dividends Payable

9
Q

Interest Expense on Bonds (Discount)

A

Interest Expense

  • —————Discounts on Bonds Payable
  • —————Cash
10
Q

Sale of Treasury Stock

A

Cash
Add. PIC - Treasury Stock
Retained Earnings
——————Treasury Stock

11
Q

Prepaid Rent

A

Rent Expense

—————-Prepaid Rent

12
Q

Closing of Sales Account

A

Sales

—————-Retained Earnings

13
Q

Preferred Stock

A

Cash

  • —————Preferred Stock
  • —————Add. PIC - P/S
14
Q

Common Stock

A

Cash

  • —————Common Stock
  • —————Add. PIC - C/S
15
Q

Purchase of Rent

A

Prepaid Rent

—————–Cash

16
Q

Inventory Sold to Customer

A

COGS

—————–Inventory

17
Q

Issuing Bonds (Premium)

A

Cash

  • —————-Premium on Bonds Payable
  • —————-Bonds Payable
18
Q

Cash Received from Sale of T-Stocks

A

Cash

  • —————T-Stock
  • —————Add. PIC - T-Stock
19
Q

Purchase of Corps. Own Stock (cash)

A

T-Stock

—————-Cash

20
Q

Date of Declaration (Dividend)

A

Dividends Declared or Retained Earnings

—————-Dividends Payable

21
Q

Date of Payment

A

Dividends Payable

—————-Cash