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Journalize and Post Basic Transactions
Precision Grading Co

question 118

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Journalize and post basic transactions
Precision Grading Co. was organized to grade construction sites.
* On June 1, owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock.
* On June 3, the company acquired grading equipment costing $89,000, paying $43,000 cash and signing a note payable for the balance.
* On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3.
Instructions: Journalize these three transactions and post to the ledger accounts. $Journalize and post basic transactions Precision Grading Co. was organized to grade construction sites. * On June 1, owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock. * On June 3, the company acquired grading equipment costing $89,000, paying $43,000 cash and signing a note payable for the balance. * On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3. Instructions: Journalize these three transactions and post to the ledger accounts. \begin{array} { | c | c | c | c | c | } \hline &{ \text { Notes Payable } } &&&{ \text { Account No. } 40 } \\ \hline \text { Date } & \text { Explanation } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline & & & & \\ \hline \end{array}$ $Journalize and post basic transactions Precision Grading Co. was organized to grade construction sites. * On June 1, owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock. * On June 3, the company acquired grading equipment costing $89,000, paying $43,000 cash and signing a note payable for the balance. * On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3. Instructions: Journalize these three transactions and post to the ledger accounts. \begin{array} { | c | c | c | c | c | } \hline &{ \text { Notes Payable } } &&&{ \text { Account No. } 40 } \\ \hline \text { Date } & \text { Explanation } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline & & & & \\ \hline \end{array}$ $Journalize and post basic transactions Precision Grading Co. was organized to grade construction sites. * On June 1, owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock. * On June 3, the company acquired grading equipment costing $89,000, paying $43,000 cash and signing a note payable for the balance. * On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3. Instructions: Journalize these three transactions and post to the ledger accounts. \begin{array} { | c | c | c | c | c | } \hline &{ \text { Notes Payable } } &&&{ \text { Account No. } 40 } \\ \hline \text { Date } & \text { Explanation } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline & & & & \\ \hline \end{array}$ $\begin{array} { | c | c | c | c | c | } \hline &{ \text { Notes Payable } } &&&{ \text { Account No. } 40 } \\\hline \text { Date } & \text { Explanation } & \text { Debit } & \text { Credit } & \text { Balance } \\\hline & & & & \\\hline\end{array}$ $Journalize and post basic transactions Precision Grading Co. was organized to grade construction sites. * On June 1, owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock. * On June 3, the company acquired grading equipment costing $89,000, paying $43,000 cash and signing a note payable for the balance. * On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3. Instructions: Journalize these three transactions and post to the ledger accounts. \begin{array} { | c | c | c | c | c | } \hline &{ \text { Notes Payable } } &&&{ \text { Account No. } 40 } \\ \hline \text { Date } & \text { Explanation } & \text { Debit } & \text { Credit } & \text { Balance } \\ \hline & & & & \\ \hline \end{array}$

Definitions:

Psychodynamic

An approach in psychology that emphasizes the role of the unconscious mind, childhood experiences, and interpersonal relationships in shaping behavior and personalities.

Personality Theory

A framework for understanding individual differences in behavior, emotions, and thought processes based on personality traits and constructs.

Family Disease

A term often used to describe the impact of an individual's illness or disorder on their family members, potentially leading to patterns of behavior or health issues within the family.

Moral Model

A perspective on disorders like addiction that views them as the result of moral failure or a lack of willpower, rather than as a disease or condition requiring treatment.

Journalize and Post Basic Transactions Precision Grading Co

Definitions:

Journalize and Post Basic Transactions
Precision Grading Co