Reference no: EM131601187
Problem - Tim Latimer Corporation had the following transactions.
1. Sold land (cost $13,056) for $10,880.
2. Issued common stock at par value for $23,100.
3. Recorded depreciation on buildings for $13,310.
4. Paid salaries of $7,490.
5. Issued 1,100 shares of $1 par value common stock for equipment worth $9,080.
6. Sold equipment (cost $10,000, accumulated depreciation $8,000) for $3,200.
For each transaction above, prepare the journal entry.
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: Tim Latimer Corporation had the following transactions. Sold land (cost $13,056) for $10,880. For each transaction above, prepare the journal entry
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