Spreadsheet1_SCF (1).xlsx - Review of Transactions for Cash...

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Review of Transactions for Cash Journalize the following transactions for SCF Company. The transactions do not relate to one another. 1. In the Account column, select "operating ", "investing", or "financing" to indicate the type of activity that the transaction is. 2. In the Debit column, select "inflow", "outflow", or "neither", depending on whether ca was received, paid out, or not affected. 3. In the Credit column, select "gain", "loss", or "neither", depending on whether there was a gain, loss, or neither in the transaction. 4. A green checkmark will appear to the right of the last row when all answers in that row are correct. A green "Correct" will appear at the top right of the journal form whe all elements in the journal are correct, including those in the the last row. EXAMPLE 0. SCF sold merchandise to Eckman Company for $6,700 cash. CH 2 Date Account Debit Credit 0. Cash 6,700 Sales 6,700 Select operating inflow neither 1. SCF sold merchandise to Oscar Company on account, $3,100. CH 2 Date Account Debit Credit 1. Select 2. SCF received payment from a customer on account, $1,800. CH 2 Date Account Debit Credit 2. If a transaction does not require an entry, enter "Blank" on the first row under Account . On the fifth line of each transaction, enter the following:
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Select 3. SCF purchased supplies for $2,200 cash. CH 2 Date Account Debit Credit 3. Select 4. SCF purchased merchandise inventory on account for $10,600. CH 5 Date Account Debit Credit 4. Select 5. SCF paid a vendor on account, $9,200. CH 2 Date Account Debit Credit 5. Select 6. SCF purchased equipment for $4,800 cash. CH 2 Date Account Debit Credit 6. Select 7. SCF sold land that it had originally purchased for $170,000 for $235,000 and received cash. CH 2 Date Account Debit Credit 7.
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Select 8. SCF purchased ABC Company stock as a long-terrm investment for $37,000 and paid cash. CH 13 Date Account Debit Credit 8. Select 9. SCF sold its investment in XYZ Company bonds for $92,000. The bonds had a carrying amount of $89,000 at the time of the sale. CH 13 Date Account Debit Credit 9. Select 10. SCF recorded $400 of depreciation on its equipment. CH 9 Date Account Debit Credit 10. Select 11. SCF sold equipment that it had originally purchased for $56,000 for $30,000. The accumulated depreciation on the equipment was $22,000 at the time of the sale. CH 9 Date Account Debit Credit 11. Select 12. SCF issued 10,000 shares of $5 par common stock for $8 per share.
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CH 11 Date Account Debit Credit 12. Select 13. SCF reaquired 500 shares of $5 par common stock as treasury stock for $10 per share. CH 11 Date Account Debit Credit 13. Select 14. SCF sold 100 shares of its treasury stock that it had purchased for $10 per share for $12 per share. CH 11 Date Account Debit Credit 14. Select 15. SCF declared cash dividends of $300. CH 11 Date Account Debit Credit 15. Select 16. SCF declared a 1% stock dividend on 10,000 shares of $5 par common stock when the market price was $15 per share.
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