Homework Answers
| Asset | = | Liabilities | Stockholder's Equity | |||||||||||||||||
| Cash | + | Accounts receivable | + | Supplies | + | Equipment | = | Accounts payable | + | Bonds payable | + | Common stock | + | Retained earnings | ||||||
| Revenues | - | Expenses | - | Dividend | Total | |||||||||||||||
| 1 | $ 1,23,000 | + | + | + | = | + | + | $ 1,23,000 | + | - | - | |||||||||
| 2 | $ 37,000 | + | + | + | = | + | $ 37,000 | + | + | - | - | |||||||||
| 3 | $ -64,000 | + | + | + | $ 64,000 | = | + | + | + | - | - | |||||||||
| 4 | $ 15,000 | + | + | + | = | + | + | + | $ 15,000 | - | - | $ 15,000 | ||||||||
| 5 | + | + | $ 6,100 | + | = | $ 6,100 | + | + | + | - | - | |||||||||
| 6 | $ -5,800 | + | + | + | = | + | + | + | - | $ 5,800 | - | $ -5,800 | ||||||||
| 7 | + | $ 11,800 | + | + | = | + | + | + | $ 11,800 | - | - | $ 11,800 | ||||||||
| 8 | $ -27,700 | + | + | + | = | + | + | + | - | $ 27,700 | - | $-27,700 | ||||||||
| 9 | $ -10,400 | + | + | + | = | + | + | + | - | - | $ 10,400 | $-10,400 | ||||||||
| Total | $ 67,100 | + | $ 11,800 | + | $ 6,100 | + | $ 64,000 | = | $ 6,100 | + | $ 37,000 | + | $ 1,23,000 | + | $ 26,800 | - | $ 33,500 | - | $ 10,400 | $-17,100 |
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During 2022, its first year of operations as a delivery service, Grouper Corp. entered into the...
During 2017, its first year of operations as a delivery service, Grouper Corp. entered into the...
During 2017, its first year of operations as a delivery service, Grouper Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $123,000 in cash. 2. Borrowed $37,000 by issuing a note. 3. Purchased delivery trucks for $64,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,100 on account. 6. Paid rent of $5,800. 7. Performed services on account for $11,800. 8. Paid salaries of $27,700. 9. Paid...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2,700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Paid salaries of $26,000. 9. Paid a...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11,900. 8. Paid salaries of $28,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the...
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the following transactions. Issued shares of common stock to investors in exchange for $100,000 in cash. Borrowed $45,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,700 on account. Paid rent of $5,200 7. Performed services on account for $10,000. Paid salaries of $28,000 Paid a dividend of $11,000 to shareholders. 1. 2. 3....
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp....
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $115,000 in cash. 2. Borrowed $38,000 by issuing bonds. 3. Purchased delivery trucks for $55,000 cash. 4. Received $17,000 from customers for services performed. 5. Purchased supplies for $6,700 on account. 6. Paid rent of $6,000. 7. Performed services on account for $10,400. 8. Paid salaries of $29,600....
During 2017, its first year of operations as a delivery service, Marigold Corp. entered into the...
During 2017, its first year of operations as a delivery service, Marigold Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $120,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $51,000 cash. 4. Received $17.000 from customers for services performed. 5. Purchased supplies for $6,200 on account. 6. Paid rent of $5.800. 7. Performed services on account for $10.900. 8. Paid salaries of $26,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following...
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $194,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $54,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,500 on account. 6. Paid rent of $5,900. 7. Performed services on account for $11,000. 8. Paid salaries of $29,700. 9. Paid a dividend...
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp....
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed. Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders. 4....
Current Attempt in Progress During 2017, its first year of operations as a delivery service, Concord...
Current Attempt in Progress During 2017, its first year of operations as a delivery service, Concord Corporation entered into the following transactions. 1. 2 3. 4. 5. Issued shares of common stock to investors in exchange for $181,000 in cash. Borrowed $54,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $17.000 from customers for services performed. Purchased supplies for $5,800 on account. Paid rent of $4.800 Performed services on account for $11,000 Paid salaries of $29,300. 9. Paid...
During 2022, its first year of operations as a delivery service, Pronghorn Corp entered into the following transactions....
During 2022, its first year of operations as a delivery service,
Pronghorn Corp entered into the following transactions.
1.
Issued shares of common stock to investors in exchange for
$198,000 in cash.
2.
Borrowed $48,000 by issuing bonds.
3.
Purchased delivery trucks for $61,000 cash.
4.
Received $14,000 from customers for services performed.
5.
Purchased supplies for $3,900 on account.
6.
Paid rent of $5,800.
7.
Performed services on account for $10,700.
8.
Paid salaries of $30,000.
9.
Paid a...
During 2017, its first year of operations as a delivery service, Grouper Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $123,000 in cash. 2. Borrowed $37,000 by issuing a note. 3. Purchased delivery trucks for $64,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,100 on account. 6. Paid rent of $5,800. 7. Performed services on account for $11,800. 8. Paid salaries of $27,700. 9. Paid...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2,700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Paid salaries of $26,000. 9. Paid a...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11,900. 8. Paid salaries of $28,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the following transactions. Issued shares of common stock to investors in exchange for $100,000 in cash. Borrowed $45,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,700 on account. Paid rent of $5,200 7. Performed services on account for $10,000. Paid salaries of $28,000 Paid a dividend of $11,000 to shareholders. 1. 2. 3....
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $115,000 in cash. 2. Borrowed $38,000 by issuing bonds. 3. Purchased delivery trucks for $55,000 cash. 4. Received $17,000 from customers for services performed. 5. Purchased supplies for $6,700 on account. 6. Paid rent of $6,000. 7. Performed services on account for $10,400. 8. Paid salaries of $29,600....
During 2017, its first year of operations as a delivery service, Marigold Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $120,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $51,000 cash. 4. Received $17.000 from customers for services performed. 5. Purchased supplies for $6,200 on account. 6. Paid rent of $5.800. 7. Performed services on account for $10.900. 8. Paid salaries of $26,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $194,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $54,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,500 on account. 6. Paid rent of $5,900. 7. Performed services on account for $11,000. 8. Paid salaries of $29,700. 9. Paid a dividend...
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed. Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders. 4....
Current Attempt in Progress During 2017, its first year of operations as a delivery service, Concord Corporation entered into the following transactions. 1. 2 3. 4. 5. Issued shares of common stock to investors in exchange for $181,000 in cash. Borrowed $54,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $17.000 from customers for services performed. Purchased supplies for $5,800 on account. Paid rent of $4.800 Performed services on account for $11,000 Paid salaries of $29,300. 9. Paid...
During 2022, its first year of operations as a delivery service,
Pronghorn Corp entered into the following transactions.
1.
Issued shares of common stock to investors in exchange for
$198,000 in cash.
2.
Borrowed $48,000 by issuing bonds.
3.
Purchased delivery trucks for $61,000 cash.
4.
Received $14,000 from customers for services performed.
5.
Purchased supplies for $3,900 on account.
6.
Paid rent of $5,800.
7.
Performed services on account for $10,700.
8.
Paid salaries of $30,000.
9.
Paid a...
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