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9. At the beginning of January, the balance in the Retained Earnings account is $500,000 for...
At the beginning of April, Owl Corporation has a balance of $12,900 in the Retained Earnings...
At the beginning of April, Owl Corporation has a balance of $12,900 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $8,400. 3. Provide services to customers in exchange for cash, $3,100. 4. Purchase equipment and pay cash, $7,500. 5. Pay rent for April, $1,200. 6. Pay employee salaries for April, $3,400. 7. Pay dividends to stockholders, $1,950. Required:...
At the beginning of April, a company has a balance of $12,700 in the Retained Earnings...
At the beginning of April, a company has a balance of $12,700 in the Retained Earnings account. During the month of April, the company had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 12,700 Transaction Retained earnings, April 1 1. Issue common stock for cash, $11,000. 2. Provide services to customers on account, $8,200. 3. Provide services to customers in...
At the beginning of April, Owl Corporation has a balance of $12,800 in the Retained Earnings...
At the beginning of April, Owl Corporation has a balance of $12,800 in the Retained Earnings account. During the month of April, Owl had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 12,800 Transaction Retained earnings, April 1 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, $8,300. 3. Provide services to customers in exchange...
At the beginning of April, Owl Corporation has a balance of $11,900 in the Retained Earnings...
At the beginning of April, Owl Corporation has a balance of $11,900 in the Retained Earnings account. During the month of April, Owl had the following external transactions Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 11,900 Transaction Retained earnings, April 1 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, $7.400. 3. Provide services to customers in exchange...
E2-5 At the beginning of April, Owl Corporation has a balance of $13,000 in the Retained...
E2-5 At the beginning of April, Owl Corporation has a balance of $13,000 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $11,000. 2. Provide services to customers on account, $8,500. 3. Provide services to customers in exchange for cash, $3,200. 4. Purchase equipment and pay cash, $7,600. 5. Pay rent for April, $1,100. 6. Pay employee salaries for April, $3,500. 7. Pay dividends to stockholders, $2,000....
A increases, B. decreases, or C. has no effect. The item (a) is provided as an...
A increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to Assets increase, and no effect on Liabilities). 6. Borrowed money from the bank 7. Purchased land by signing a note payable. 8. Used supplies for the month. Asset Liability Stockholders' Equity А 6. ncrease CA Increase no effect CC increase () increase CAD no effect CC decreased B no...
ment 21 4 Exercise 2-5A Understand the components of retained earnings (LO2-2) At the beginning of...
ment 21 4 Exercise 2-5A Understand the components of retained earnings (LO2-2) At the beginning of April, Owl Corporation has a balance of $13.000 in the Retained Earnings account. During the month of April, Owl had the following external transactions 00:1948 Required: Using the external transactions below.compute the balance of Retained Earnings at April 30 (Decreases should be entered as a negative) pok Bande $ 13.000 Transaction Retained earnings. April 1. Issue common stock for cash $11,000 2. Provide services...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 1,700 Accounts Receivable 450 Supplies 550 Equipment 7,900 Accounts Payable $ 1,250 Notes Payable 2,500 Common Stock 5,500 Retained Earnings 1,350 Totals $10,600 $10,600 The following transactions occur in November. November 1 Issue common stock in exchange for $11,500 cash. November 2 Purchase equipment with a long-term note for $2,000 from Spartan Corporation. November 4 Purchase supplies for...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,200 9,200 3,200 30,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 4,800 5,800 0 20,000 9,200 $ 46,600 $46,600 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $17,000, and on account, $62,000. 2. March 13 Collect on...
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Accounts...
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 51,500 Accounts Receivable 35,700 Land 120,800 Accounts Payable 16,300 Notes Payable (due in 2 years) 40,000 Common Stock 110,000 Retained Earnings 41,700 Totals $ 208,000 $ 208,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $72,400. 2. February 25 Provide services to customers for cash, $80,300. 3. March...
At the beginning of April, Owl Corporation has a balance of $12,900 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $8,400. 3. Provide services to customers in exchange for cash, $3,100. 4. Purchase equipment and pay cash, $7,500. 5. Pay rent for April, $1,200. 6. Pay employee salaries for April, $3,400. 7. Pay dividends to stockholders, $1,950. Required:...
At the beginning of April, a company has a balance of $12,700 in the Retained Earnings account. During the month of April, the company had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 12,700 Transaction Retained earnings, April 1 1. Issue common stock for cash, $11,000. 2. Provide services to customers on account, $8,200. 3. Provide services to customers in...
At the beginning of April, Owl Corporation has a balance of $12,800 in the Retained Earnings account. During the month of April, Owl had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 12,800 Transaction Retained earnings, April 1 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, $8,300. 3. Provide services to customers in exchange...
At the beginning of April, Owl Corporation has a balance of $11,900 in the Retained Earnings account. During the month of April, Owl had the following external transactions Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 11,900 Transaction Retained earnings, April 1 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, $7.400. 3. Provide services to customers in exchange...
E2-5 At the beginning of April, Owl Corporation has a balance of $13,000 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $11,000. 2. Provide services to customers on account, $8,500. 3. Provide services to customers in exchange for cash, $3,200. 4. Purchase equipment and pay cash, $7,600. 5. Pay rent for April, $1,100. 6. Pay employee salaries for April, $3,500. 7. Pay dividends to stockholders, $2,000....
A increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to Assets increase, and no effect on Liabilities). 6. Borrowed money from the bank 7. Purchased land by signing a note payable. 8. Used supplies for the month. Asset Liability Stockholders' Equity А 6. ncrease CA Increase no effect CC increase () increase CAD no effect CC decreased B no...
ment 21 4 Exercise 2-5A Understand the components of retained earnings (LO2-2) At the beginning of April, Owl Corporation has a balance of $13.000 in the Retained Earnings account. During the month of April, Owl had the following external transactions 00:1948 Required: Using the external transactions below.compute the balance of Retained Earnings at April 30 (Decreases should be entered as a negative) pok Bande $ 13.000 Transaction Retained earnings. April 1. Issue common stock for cash $11,000 2. Provide services...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 1,700 Accounts Receivable 450 Supplies 550 Equipment 7,900 Accounts Payable $ 1,250 Notes Payable 2,500 Common Stock 5,500 Retained Earnings 1,350 Totals $10,600 $10,600 The following transactions occur in November. November 1 Issue common stock in exchange for $11,500 cash. November 2 Purchase equipment with a long-term note for $2,000 from Spartan Corporation. November 4 Purchase supplies for...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,200 9,200 3,200 30,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,800 4,800 5,800 0 20,000 9,200 $ 46,600 $46,600 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $17,000, and on account, $62,000. 2. March 13 Collect on...
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