FA08Quiz3Key - sale of inventory on account declared...

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Financial Accounting Quiz 3 Name: Fall 2008 Match each of the following transactions to one of the journal entries reflected in the t-accounts by putting the appropriate letter in the blank next to the transaction description. The company: __ issued stock in exchange for cash __ borrowed cash from the bank __ prepaid rent in advance __ purchased equipment paying with cash __ purchased inventory on account
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Unformatted text preview: __ sale of inventory on account __ declared dividend to be paid later __ paid dividend that was declared earlier Cash Accounts Receivable Prepaid Rent (f)30 0.9(e) (b)20 (e)0.9 (c)10 12(d) 0.5(h) Inventory Equipment (a)15 10(b) (d)12 Accounts Payable Dividends Payable Notes Payable 15(a) (h)0.5 0.5(g) 10(c) Common Stock Retained Earnings 30(f) (g)0.5 Sales COGS 20(b) (b)10...
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This note was uploaded on 01/20/2012 for the course ACCOUNTING 101 taught by Professor Unknown during the Spring '08 term at Carnegie Mellon.

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