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Adjusting entries in the general journal
Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at the beginning of these entries, it isn't essential to have an explanation at the end of every set of adjusting entry Trans actions. Entries must be listed with a date, debit and then credit. Credit must be indented in the journal.
The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday
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On December 31, 2003, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30, 2004, the firm issued an add
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