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Create T accounts for the following data Date Account name debit credit Jan 1 Cash 180000     Building 630000     Land 220000     Common stock   700000   Premium on issue of common stock   280000 Jan 1 Pre paid insurance 72000     cash   72000 Feb 1 cash 150000     3yr  4% note payable   150000 Mar 1 Cash  280000     Service revenue   280000 Jul 1 cash 485000     Discount on bond issued 15000     6% 5yr   500000 Dec 31 Interest on Bond expense 15000     cash   15000 Dec 31 Interest on note payable expense 29052     5yr 6% note payable 25000     cash   54052 Dec 31 Dividend 40000     Dividend payable   40000 Dec 31 Depreciation expense 21000     Accumulated Depreciation    21000 Dec 31 Insurance Expense  36000     prepaid insurance   36000

Create T accounts for the following data Date Account name debit credit Jan 1 Cash 180000     Building 630000     Land 220000     Common stock   700000   Premium on issue of common stock   280000 Jan 1 Pre paid insurance 72000     cash   72000 Feb 1 cash 150000     3yr  4% note payable   150000 Mar 1 Cash  280000     Service revenue   280000 Jul 1 cash 485000     Discount on bond issued 15000     6% 5yr   500000 Dec 31 Interest on Bond expense 15000     cash   15000 Dec 31 Interest on note payable expense 29052     5yr 6% note payable 25000     cash   54052 Dec 31 Dividend 40000     Dividend payable   40000 Dec 31 Depreciation expense 21000     Accumulated Depreciation    21000 Dec 31 Insurance Expense  36000     prepaid insurance   36000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Create T accounts for the following data

Date Account name debit credit
Jan 1 Cash 180000  
  Building 630000  
  Land 220000  
  Common stock   700000
  Premium on issue of common stock   280000
Jan 1 Pre paid insurance 72000  
  cash   72000
Feb 1 cash 150000  
  3yr  4% note payable   150000
Mar 1 Cash  280000  
  Service revenue   280000
Jul 1 cash 485000  
  Discount on bond issued 15000  
  6% 5yr   500000
Dec 31 Interest on Bond expense 15000  
  cash   15000
Dec 31 Interest on note payable expense 29052  
  5yr 6% note payable 25000  
  cash   54052
Dec 31 Dividend 40000  
  Dividend payable   40000
Dec 31 Depreciation expense 21000  
  Accumulated Depreciation    21000
Dec 31 Insurance Expense  36000  
  prepaid insurance   36000
       
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