How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Neo Your Own Question
Neo, Tutor
Category: Homework
Satisfied Customers: 12101
Experience:  BS Accounting
Type Your Homework Question Here...
Neo is online now
A new question is answered every 9 seconds

How do I journal the following transactions 1. on Sept. 1,

This answer was rated:

How do I journal the following transactions? 1. on Sept. 1, 2009 the company acquired land with a building. The company paid $100,000 in cash for the property. After appraisals, the land had a fair market value of $75,000 and the building fair market value is $45,000. 2. The company signed a $40,000 non-interest bearing note to purchase equipment. The $40,000 payment is due Sept. 1, 2010. The interest rate is 8%. 3. On Sept. 15 a truck was donated to the company. The truck would have sold for $2,500. 4. The company paid its lawyer $3,000 to reorganize the company. 5. On October 10, 2009 the company purchased machinery for $15,000 cash and $500 in freight charges were also paid. 6. On Dec. 2, 2009 the company acquired office equipment. Due to being short of cash the company offered 200 shares of the companies nopar common stock in exchange for the equipment valued at $5,500. The fair value of the stock is not readily determinable.

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Neo and other Homework Specialists are ready to help you