Problem 3.8A Home Team Corporation | Michigan State University - Edubirdie

University:
Michigan State University
Course:
ACC 300 | Intermediate Financial Accounting I
Academic year:

2021
Views:

225

Pages:

1
Author:

Accinkiquicpqw

10 Minutes, Difficult Error Recorded the issuance of capital stock by debiting Capital Stock and crediting Service Revenue. PROBLEM 3.8A HOME TEAM CORPORATION Net Income Recorded the declaration and payment of a dividend by debiting Capital Stock and crediting Cash. Recorded the payment of an account payable by debiting Cash and crediting Rent Expense. Recorded the collection of an outstanding account receivable by debiting Cash and creditin g Service Revenue. Recorded client billings on account by debiting Accounts Receivable and crediting Advertising Ex pense. Recorded the cash purchase of land by debiting Supplies Expense and crediting Notes Payable. Recorded the purchase of a building on account by debiting Cash and crediting Dividends Payable. P3.8A Total Assets Total Liabilities Owners' Equity O U NE U NE NE NE NE O O O O O O NE O NE NE NE NE U NE O U NE NE NE NE

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