Homework Answers
| we know | ||
| assets =liabilties + owners equity | ||
| assets | ||
| cash | 41300 | |
| laboratory equipment | 76400 | |
| laboratory supplies | 7600 | |
| total | 125300 | |
| Liabilties | ||
| Loan payable | 15900 | |
| Accounts payable | 10075 | |
| total | 25975 | |
| equity = assets - liabilities | ||
| equity = 125300-25975= | 99325 | |
| so we have | ||
| Assets | 125300 | |
| liabilties | 25975 | |
| owners equity | 99325 | |
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02 Ex 2-1 6 Saved Exercise 2.1 Determining accounting equation amounts. LO 2-1, 2-2 Just before...
Exerclse 2.1 Determining accounting equation amounts. LO 2-1,2-2 Just before Walker Laboratories opened for business, James...
Exerclse 2.1 Determining accounting equation amounts. LO 2-1,2-2 Just before Walker Laboratories opened for business, James Walker, the owner, had the following assets and liabilities. $41,100 76,200 Cash Laboratory Equipment Laboratory Supplies Loan Payable Accounts Payable 7,400 15,700 10,025 Determine the totals that would appear in the firm's fundamental accounting equation. Assets Liabilities Owner's Equity
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and...
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities Cash Laboratory Equipment Laboratory Supplies Loan Payable Accounts Payable $ 40,780 75,888 7,000 15,300 9,925 Determine the totals that would appear in the firm's fundamental accounting equation. Assets Liabilities Owner's Equity
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and...
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Cash $ 39,600 Laboratory Equipment 74,700 Laboratory Supplies 5,900 Loan Payable 14,200 Accounts Payable 9,650 Determine the totals that would appear in the firm’s fundamental accounting equation.
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets...
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities...
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities + Stockholders' Equity A. B. $776,500$588,800 C. $14,750,000-$4,455,000 + 5550,000 $1,345,000 SHOW ME N EX 1-7 Accounting equation Obj. 3, 4 B. $4,120,000 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: A. IE...
Saved Help Save & Exit Submit 2 Check my work Exercise 1-13 Identifying effects of transactions...
Saved Help Save & Exit Submit 2 Check my work Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions ok a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. b. The company paid...
1-M Mastery Problem: Determining how transactions change an accounting equation L04, 5, 6 Peter Gentry operates...
1-M Mastery Problem: Determining how transactions change an accounting equation L04, 5, 6 Peter Gentry operates a service business called Doggywood Pet Suites. Doggywood Pet Suites uses the accounts shown in the following accounting equation. Use the form in your Working Papers to complete this problem. + Owner's Equity Trans Liabilities Acets. Pay- Paws & Claws Co. Acets. Rec.- Prepaid + Dr. Shephard + Supplies + Insurance = 100 Peter Gentry. Capital Cash + Beg Bal 2.500 200 1,300 -500...
Saved E9-3 Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Depreciation (LO 9-2, LO...
Saved E9-3 Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Depreciation (LO 9-2, LO 9-3) O'Connor Company ordered a machine on January 1 at a purchase price of $15,000. On the date of delivery, January 2 the company paid $4,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $200 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to...
Exercise 1-26A Prepare financial statements covering two accounting cycles LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10...
Exercise 1-26A Prepare financial statements covering two
accounting cycles LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 Ortho Company
experienced the following events during its first- and second-year
operations: Year 1 Transactions: Acquired $68,000 cash from the
issue of common stock. Borrowed $36,000 cash from the National
Credit Union. Earned $59,000 of cash revenue. Incurred $43,000 of
cash expenses. Paid a $7,000 cash dividend. Paid $37,000 cash to
purchase land. Year 2 Transactions: Acquired $50,000 cash from the
issue of common...
Chapter 11 CH BOOK Journalize period payre 1. EX 11.11 BLANKSHEETALGO Chart of Account Journal 2....
Chapter 11 CH BOOK Journalize period payre 1. EX 11.11 BLANKSHEETALGO Chart of Account Journal 2. EX 11.01. ALGO 3. PR 1105 ALGO 4. PE 11 04 BLANKSHEETALGO • .. The Clapton Coin 1300 social security with and $3,450 of Medicare la donates of 230.000 Euro Federal wing for the periode $43.520 5. PR 11 04 ALGO 6. EX 11 21 Red On December the malay the the charter accounts for the end of the account CHOW als de forma...
Exerclse 2.1 Determining accounting equation amounts. LO 2-1,2-2 Just before Walker Laboratories opened for business, James Walker, the owner, had the following assets and liabilities. $41,100 76,200 Cash Laboratory Equipment Laboratory Supplies Loan Payable Accounts Payable 7,400 15,700 10,025 Determine the totals that would appear in the firm's fundamental accounting equation. Assets Liabilities Owner's Equity
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities Cash Laboratory Equipment Laboratory Supplies Loan Payable Accounts Payable $ 40,780 75,888 7,000 15,300 9,925 Determine the totals that would appear in the firm's fundamental accounting equation. Assets Liabilities Owner's Equity
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities + Stockholders' Equity A. B. $776,500$588,800 C. $14,750,000-$4,455,000 + 5550,000 $1,345,000 SHOW ME N EX 1-7 Accounting equation Obj. 3, 4 B. $4,120,000 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: A. IE...
Saved Help Save & Exit Submit 2 Check my work Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions ok a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. b. The company paid...
1-M Mastery Problem: Determining how transactions change an accounting equation L04, 5, 6 Peter Gentry operates a service business called Doggywood Pet Suites. Doggywood Pet Suites uses the accounts shown in the following accounting equation. Use the form in your Working Papers to complete this problem. + Owner's Equity Trans Liabilities Acets. Pay- Paws & Claws Co. Acets. Rec.- Prepaid + Dr. Shephard + Supplies + Insurance = 100 Peter Gentry. Capital Cash + Beg Bal 2.500 200 1,300 -500...
Saved E9-3 Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Depreciation (LO 9-2, LO 9-3) O'Connor Company ordered a machine on January 1 at a purchase price of $15,000. On the date of delivery, January 2 the company paid $4,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $200 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to...
Exercise 1-26A Prepare financial statements covering two
accounting cycles LO 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 Ortho Company
experienced the following events during its first- and second-year
operations: Year 1 Transactions: Acquired $68,000 cash from the
issue of common stock. Borrowed $36,000 cash from the National
Credit Union. Earned $59,000 of cash revenue. Incurred $43,000 of
cash expenses. Paid a $7,000 cash dividend. Paid $37,000 cash to
purchase land. Year 2 Transactions: Acquired $50,000 cash from the
issue of common...
Chapter 11 CH BOOK Journalize period payre 1. EX 11.11 BLANKSHEETALGO Chart of Account Journal 2. EX 11.01. ALGO 3. PR 1105 ALGO 4. PE 11 04 BLANKSHEETALGO • .. The Clapton Coin 1300 social security with and $3,450 of Medicare la donates of 230.000 Euro Federal wing for the periode $43.520 5. PR 11 04 ALGO 6. EX 11 21 Red On December the malay the the charter accounts for the end of the account CHOW als de forma...
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