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Prepare the necessary journal entries for each of the following transactions for Klokel,Inc.
a.Klokel,Inc.sold 1,200 shares of common stock at $30 per share in cash.
b.The company purchased equipment for $14,000,paying $4,000 in cash and the remainder in a note.
c.The company paid the current month's rent,which amounted to $900,and the current month's utilities,which amounted to $400.
d.Merchandise inventory costing $1,900 was sold on account for $4,100.
e.Depreciation on the equipment amounted to $600.
Thoreau's Criteria
Standards or principles established by the American transcendentalist Henry David Thoreau, often related to civil disobedience and living simply.
Rule of Law
The principle that all people and institutions are subject to and accountable to law that is fairly applied and enforced.
Government Authority
The legal and formal right given to officials or bodies to make decisions, enforce laws, and administer public resources.
Civil Disobedience
The refusal to comply with certain laws or to pay taxes and fines, as a peaceful form of political protest.
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