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Total Assets were unaffected.
Since with the Land purchase, cash will be paid. JOurnal Entry will be:
Land Account Debit
Cash Account Credit
One asses is debit and other asset is credit, hence no impact.
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Li Company paid cash to purchase land. What happened as a result of this business event?...
Hazeltine Company issued common stock for $200,000 cash. What happened as a result of this event?...
Hazeltine Company issued common stock for $200,000 cash. What happened as a result of this event? Multiple Choice Equity increased o Assets increased ( Claims of creditors obtet increased created Astats.com of creditors abi and equity or 7 H Por Next >
19. What transaction does the following general journal entry represent? Accounts payable 1,200 Cash 1,200 A....
19. What transaction does the following general journal entry represent? Accounts payable 1,200 Cash 1,200 A. Provided services on account. B. Paid cash owed to a supplier. C. Collected cash from customers. D. Borrowed money to support operating activities. 20, Li Company paid cash to purchase land. As a result of this accounting A. total assets decreased. B. total assets were unaffected. C. total equity decreased. D. both assets and total equity decreased.
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site...
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site for the business, $89,000. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). a. b. C. Received $15,400 cash from customers on account. d. Purchased medical equipment and signed a $90,000 promissory note in e. payment. f. Purchased a flat-screen TV for Smith's home. Paid Smith a cash dividend of 4,000. g. h. Purchased office supplies...
delete 23) Which of the following would be reported in the cash flow from financing activities...
delete 23) Which of the following would be reported in the cash flow from financing activities section of cash flows? 23) A) Paid cash for dividends backspac B) Sold land for cash C) Paying cash for dividends and receiving cash from common stock D) Received cash for common stock 24) Mayberry Company paid $30,000 cash to purchase land. What happened as a result of this business event 24) A) Total equity was not affected. B) Total assets were not affected....
Blue Company received a cash advance of $650 from a customer. As a result of this...
Blue Company received a cash advance of $650 from a customer. As a result of this event, a. liabilities decreased by $650. b. assets and stockholders' equity increased by $650. c.) assets increased by $650. d. stockholders' equity increased by $650. Silver Company provided consulting services and billed the client $2,500. As a result of this event, a. assets remained unchanged. b. assets increased by $2,500. C. assets and stockholders' equity both increased by $2,500. C. stockholders' equity increased by...
Acquired $30,000 cash from the issue of common stock. Paid $12,000 cash to purchase land. Borrowed...
Acquired $30,000 cash from the issue of common stock. Paid $12,000 cash to purchase land. Borrowed $10,000 cash. Provided services for $20,000 cash. Paid $1,000 cash for utilities expense. Paid $15,000 cash for other operating expenses. Paid a $2,000 cash dividend to the stockholders. Determined that the market value of the land purchased in Event 2 is now $12,700. Required a. The January 1, 2018, general ledger account balances are shown in the following accounting equation. Record the eight events...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land? Multiple Choice $95,400. О O $97,600. $100,700. O $82,000. A company purchased new equipment for $68,000. The company paid...
23) Which of the following would be reported in the cash flow from financing activities section...
23) Which of the following would be reported in the cash flow from financing activities section of a of cash flows? 23) A) Paid cash for dividends B) Sold land for cash C) Paying cash for dividends and receiving cash from common stock D) Received cash for common stock 24) Mayberry Company paid $30,000 cash to purchase land. What happened as a result of this business event 24) A) Total equity was not affected. B) Total assets were not affected....
A company purchased new equipment for $68,000. The company paid cash for the equipment. Other costs...
A company purchased new equipment for $68,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,400; sales tax paid $4,600; and installation cost, $3,300. The cost recorded for the equipment was: Multiple Choice $68,000 $69,400. $74,000. $77,300. A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the...
It says that the numbers for cash recieved from sale of investments, cash paid for purchase...
It says that the numbers for cash recieved from sale of
investments, cash paid for purchase of
land, cash paid for purchase of equipment, cash recieved from
sale of common stock and cash paid for dividends is inocrrect. Can
someone please check these?
Dec. 31, 2019 Dec. 31, 2018 Assets Cash $316,580 Accounts receivable (net) 114,680 323,750 $292,800 105,160 311,350 120,620 Inventories 0 166,050 Investments Land Equipment Accumulated depreciation-equipment 357,190 (83,620) $1,194,630 275,270 (74,230) $1,030,970 Total assets Liabilities and Stockholders'...
Hazeltine Company issued common stock for $200,000 cash. What happened as a result of this event? Multiple Choice Equity increased o Assets increased ( Claims of creditors obtet increased created Astats.com of creditors abi and equity or 7 H Por Next >
19. What transaction does the following general journal entry represent? Accounts payable 1,200 Cash 1,200 A. Provided services on account. B. Paid cash owed to a supplier. C. Collected cash from customers. D. Borrowed money to support operating activities. 20, Li Company paid cash to purchase land. As a result of this accounting A. total assets decreased. B. total assets were unaffected. C. total equity decreased. D. both assets and total equity decreased.
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site for the business, $89,000. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). a. b. C. Received $15,400 cash from customers on account. d. Purchased medical equipment and signed a $90,000 promissory note in e. payment. f. Purchased a flat-screen TV for Smith's home. Paid Smith a cash dividend of 4,000. g. h. Purchased office supplies...
delete 23) Which of the following would be reported in the cash flow from financing activities section of cash flows? 23) A) Paid cash for dividends backspac B) Sold land for cash C) Paying cash for dividends and receiving cash from common stock D) Received cash for common stock 24) Mayberry Company paid $30,000 cash to purchase land. What happened as a result of this business event 24) A) Total equity was not affected. B) Total assets were not affected....
Blue Company received a cash advance of $650 from a customer. As a result of this event, a. liabilities decreased by $650. b. assets and stockholders' equity increased by $650. c.) assets increased by $650. d. stockholders' equity increased by $650. Silver Company provided consulting services and billed the client $2,500. As a result of this event, a. assets remained unchanged. b. assets increased by $2,500. C. assets and stockholders' equity both increased by $2,500. C. stockholders' equity increased by...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land? Multiple Choice $95,400. О O $97,600. $100,700. O $82,000. A company purchased new equipment for $68,000. The company paid...
23) Which of the following would be reported in the cash flow from financing activities section of a of cash flows? 23) A) Paid cash for dividends B) Sold land for cash C) Paying cash for dividends and receiving cash from common stock D) Received cash for common stock 24) Mayberry Company paid $30,000 cash to purchase land. What happened as a result of this business event 24) A) Total equity was not affected. B) Total assets were not affected....
A company purchased new equipment for $68,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,400; sales tax paid $4,600; and installation cost, $3,300. The cost recorded for the equipment was: Multiple Choice $68,000 $69,400. $74,000. $77,300. A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the...
It says that the numbers for cash recieved from sale of
investments, cash paid for purchase of
land, cash paid for purchase of equipment, cash recieved from
sale of common stock and cash paid for dividends is inocrrect. Can
someone please check these?
Dec. 31, 2019 Dec. 31, 2018 Assets Cash $316,580 Accounts receivable (net) 114,680 323,750 $292,800 105,160 311,350 120,620 Inventories 0 166,050 Investments Land Equipment Accumulated depreciation-equipment 357,190 (83,620) $1,194,630 275,270 (74,230) $1,030,970 Total assets Liabilities and Stockholders'...
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