Tag: corporation comprehensive problem

Corporation journal entry for draws will record the journal entry related to dividends. We will enter the journal entry into the general journal, post it to the general ledger, and create the trial balance from the general ledger. The accounting transaction will debit dividends and credit dividends payable. We will have a second journal entry… Continue reading 130 Corporation Comp Prob Dividends u

Corporation comprehensive problem purchase of insurance where we will enter the journal entry related to the purchase of insurance. We will journalize the journal entry to the general journal, post the accounting transaction to the general ledger, and create the trial balance from the general ledger. The journal entry will debit prepaid insurance, an asset,… Continue reading Corporation Comp Prob Purchase Insurance – Journal Entry Purchase Insurance