Q29. Issuance of bonds payable Entity A issued $200,000 bonds and received $200,000 in cash. Prepare a journal entry to record this transaction. A29. Bonds
Q28. Income taxes payable On December 31, 20×1, Entity A estimated the income taxes expense for 20×1 as $260,000. Prepare a journal entry to record
Q27. Salaries payable Entity A pays salaries on the 20th of each month. Monthly salaries expense is $180,000. On December 20, 20×1, Entity A paid
Q26. Notes payable On December 6, 20×1, Entity A purchased equipment and issued a non-interest-bearing promissory note with the following information. (a) Face amount of
Q25. Accounts payable On January 8, 20×1, Entity A paid $11,000 in cash to pay off the balance of its accounts payable to supplier M.
Q24. Goodwill Entity A acquired Entity S with the following information: (a) Fair value of the assets of Entity S = $900,000 (b) Fair value