Mune Company Essay Example for Free

Mune federation EssayMune Company recorded journal entries for the declaration of $50,000 of dividends, the $32,000 increase in accounts receivable for services rendered, and the purchase of equipment for $21,000. What net imprint do these entries nonplus on legality? Decrease of $18,000.Maso Company recorded journal entries for the issuance of average shares for $40,000, the payment of $13,000 on accounts payable, and the payment of salaries expense of $21,000. What net effect do these entries have on equity? Increase of $19,000.During the first year of Wilkinson Co.s operations, all purchases were recorded as assets. Store supplies in the amount of $19,350 were purchased. true(a) year-end store supplies amounted to $6,450. The adjusting launch for store supplies will increase expenses by $12,900.Panda Corporation compensable cash of 18,000 on June 1, 2010 for one years rent in advance and recorded the proceeding with a debit to pay Rent. The December 31, 2010 adjusti ng entry is debit Rent Expense and credit Pre paid Rent, 10,500.Recording the adjusting entry for depreciation has the same effect as recording the adjusting entry for a pay expense. An accrued expense can best be described as an amount not paid and currently matched with earnings.A document prepared to prove the equality of debits and credits after all adjustments have been prepared is the Adjusted trial balance.Under International Financial Reporting Standards (IFRS) the book of original entry is also known as the Journal