Salaries totad 30000 and consisted of the president salary

Reference no: EM13568773

MM corporation had the following transactions

1) aquired land with a building paying $100,000 cash and issuing 1,000 shared of its $100 par value common stock that is actively trade and was slling at $170 per shared

2) the building was demolished and MM paid K Demolition $4,000 MM received $1,500 from the sale of salvage material.

3) the legal fees paid total $6,000 of which $4,500 was for little search for the land and $1,500 for legal work in regard to the construction of the building

4) the total cost of constructon of the building was $300,000

5) the company paid $5,40 for fired insurance covering a three-year period

6) there was a special tax assesment from the township pf $4,500

7) salaries totad $30,000 and consisted of the president salary of $20,000 and $10,000 for the supervisor of construction for the new building

REQUIRED

Prepare all necessary jornal entries and post them to the appropriate ledger accounts

Reference no: EM13568773

Questions Cloud

What international accounting standard ifrss applies to : bucks hunting equipment inc. buck is a retailer of hunting equipment hunting apparel and outdoor accessories. bucks

Compute the yield to maturity of a 3500 par value bond : compute the yield to maturity of a 3500 par value bond with a coupon rate of 7.5 quarterly payments - that is four

Marsden manufactures a cat food product called special : marsden manufactures a cat food product called special export. marsden currently has 17000 bags of special export on

Suggest a forward contract on the stock market index : consider a forward contract on a stock market index. identify the false statement. everything else being constanta. the

Salaries totad 30000 and consisted of the president salary : mm corporation had the following transactions1 aquired land with a building paying 100000 cash and issuing 1000 shared

If the expected return on the market portfolio is 14 what : if the expected return on the market portfolio is 14 if the risk-free rate is 3.5 and if the beta of homton inc. stock

Products kappa and sigma are joint products the joint : products kappa and sigma are joint products. the joint production cost of the products is 800. kappa has a market value

Go on you tube and find a video of malcolm x and watch one : 1 go on you tube and find a video of malcolm x and watch one of his speeches. how would you compare him with king in

Suppose that us interest rates rise from 3 to 4 this year : suppose that u.s. interest rates rise from 3 to 4 this year. the spot exchange rate quotes at 112.5 jpyusd and the

User Account

All Pages