Journal Entries Flashcards
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
