Journalize the transactions and the closing entry for net income. (List all debit entries before
credit entries. Record journal entries in the order presented in the problem. Credit account titles
are automatically indented when amount is entered. Do not indent manually.)
Enter the beginning balances in the accounts, and poat the journal entries to the stockhol ders'
equity accounts. (Use J5 for the
(c) Prspars a stockhalders' squity section at Decamber 31, 2022. (Enter the account name only
and do not provide the descriptive information provided in the question.) CULVER
CORPORATION Balance Sheet (Partial) $$
The stockholders' equity accounts of Culver Corporation on January 1, 2022, were as follows.
During 2022, the corporation had the following transactions and events pertaining to its
stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for $116,000. Apr. 14 Sold
6,000 shares of treasury stock-common for $32,900. Sept. 3 Issued 5,200 shares of common
stock for a patent valued at \$35,700. Nov. 10 Purchased 1,000 shares of common stock for the
treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $415,000. No
dividends were declared during the year..
Journalize the transactions and the closing entry for net income. .pdf
1. Journalize the transactions and the closing entry for net income. (List all debit entries before
credit entries. Record journal entries in the order presented in the problem. Credit account titles
are automatically indented when amount is entered. Do not indent manually.)
Enter the beginning balances in the accounts, and poat the journal entries to the stockhol ders'
equity accounts. (Use J5 for the
(c) Prspars a stockhalders' squity section at Decamber 31, 2022. (Enter the account name only
and do not provide the descriptive information provided in the question.) CULVER
CORPORATION Balance Sheet (Partial) $$
The stockholders' equity accounts of Culver Corporation on January 1, 2022, were as follows.
During 2022, the corporation had the following transactions and events pertaining to its
stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for $116,000. Apr. 14 Sold
6,000 shares of treasury stock-common for $32,900. Sept. 3 Issued 5,200 shares of common
stock for a patent valued at $35,700. Nov. 10 Purchased 1,000 shares of common stock for the
treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $415,000. No
dividends were declared during the year.
