Homework Answers
Answer
--Requirement, as asked
| Assets | Liabilities | Contributed Capital | Retained earnings | |||||
| a | Cash | $13,450 | Common Stock | $13,450 | ||||
| b | Accounts receivables | $8,750 | Service revenue | $8,750 | ||||
| c | Cash | $7,175 | ||||||
| Accounts receivables | ($7,175) | |||||||
| d | Accounts Payable | $65 | Supplies expense | ($65) | ||||
| e | Cash | ($4,500) | ||||||
| Prepaid Rent | $4,500 | |||||||
Add Answer to:
Transactions a. The company started as a corporation with a $13,450 cash contribution from the owners...
The following cash transactions took place during July 2010, the first month of business for Stay...
The following cash transactions took place during July 2010,
the first month of business for Stay Bright Cleaning Supplies comma
Inc.
a. Bill Lunden started a business, Stay Bright Cleaning Supplies, Inc., by contributing $7,500 cash. He received common stock in exchange. b. The company earned and collected cash revenue of $2,500. c. The company paid expenses of $1,250 in cash. d. The company declared and paid dividends of S500. e. On July 31, the company borrowed $4,375 from the...
Enter each transaction into the accounting equation. Begin by entering transaction a. Then, enter each transaction...
Enter each transaction into the accounting equation. Begin by
entering transaction a. Then, enter each transaction in the order
they occurred. (Use parentheses or a minus sign when entering
account decreases. Use only the necessary input lines.)
i Transactions Marlene and Pamela opened up MP Public Relations Firm by contributing $22,750 on July 1, 2009, in exchange for common stock. The firm borrowed $15,000 from the bank on July 1 . The note is a 1-year, 10% note, with both...
Show each of the following transactions in the accounting equation. Then, tell whether or not the...
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. IA (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Home Depot Inc. paid...
More Info a. Maren started the business by depositing $11,000 in a business checking account on...
More Info a. Maren started the business by depositing $11,000 in a business checking account on April 1 in exchange for common stock. b. The company provided services to clients and received $4,900 in cash. c. The company borrowed $1,900 from the bank for the business by signing a note. d. The company paid $900 of operating expenses. e. The company purchased a new computer for $3,400 cash to use to keep track of its customers, starting next month. f....
Show each of the following transactions in the accounting equation. Then, tell whether or not the...
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. a (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Chico Inc. paid its...
Gamble company had following transactions of 2020: - When company started, received $19,000 from owners...
Gamble company had following transactions of 2020: - When company started, received $19,000 from owners for stock -Purchased equipment of Jan 1. That cost $10,000 in cash. The equipment had a 3yr useful life and a $1,000 salvage value. Straight-line dep -Services provided for cash $7,000 -$1,600 of supplies was purchased on account -Services provided on account were $9,500 - November 1, the company paid cash of $3,600 in advance for 6 month’s rent,...
High KickHigh Kick Games, Inc. is a new corporation started on January 1,2018 The following transactions...
High KickHigh Kick Games, Inc. is a new corporation started on January 1,2018 The following transactions occurred during the first year of operations. a. On January 1, the owners invested a total of $ 49,000.00 (the par value of the stock) to start the company. In exchange, the corporation issued the owners 5,000 shares of common stock. b. On March 14, the company paid cash to purchase office equipment for $10,200.00 c. On April 6, the company obtained a note...
Record adjustments and prepare financial statements. (LO 1, 2, 3, 4). The accounting records for Sony Snowboard Company,...
Record adjustments and prepare financial statements. (LO 1, 2,
3, 4). The accounting records for Sony Snowboard Company, a
snowboard repair company, contained the following balances as of
December 31, 2008:
Sony Snowboard Company Balance Sheet
At December 31, 2008
Assets Cash...........................................
$40,000
Accounts receivable ................ 16,500
Land........................................... 20,000 Totals
......................................... $76,500
Liabilities and Shareholders’ equity
Accounts payable ............................ Common stock
................................. Retained
earnings............................
$17,000 45,000 14,500
$76,500
CHAPTER 3 • ACCRUALS AND DEFERRALS: TIMING IS EVERYTHING IN
ACCOUNTING 125The...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock to them. b. Borrowed $14,500 cash from a bank and signed a note due later this year. c. Bought and received $1,550 of equipment on account. d. Purchased land for $27000; paid $2.500 in cash and signed a long-term note for $24.500. e. Purchased $10,500 of equipment; paid $2.500 in cash and charged the rest on account Required: For each of the events in...
a. Susan and Lucy opened up Gardening Made Easy by contributing $23,800 on July 1, 2009,...
a. Susan and Lucy opened up Gardening Made Easy by contributing $23,800 on July 1, 2009, in exchange for common stock. b. The firm borrowed $17,000 from the bank on July 1. The note is a 3-year, 8% note, with both principal and interest to be repaid on June 30, 2010. C. The firm prepaid a year of rent for $1,350 that started August 1, 2009. d. The firm paid $975 cash for operating expenses for the first month. e....
The following cash transactions took place during July 2010,
the first month of business for Stay Bright Cleaning Supplies comma
Inc.
a. Bill Lunden started a business, Stay Bright Cleaning Supplies, Inc., by contributing $7,500 cash. He received common stock in exchange. b. The company earned and collected cash revenue of $2,500. c. The company paid expenses of $1,250 in cash. d. The company declared and paid dividends of S500. e. On July 31, the company borrowed $4,375 from the...
Enter each transaction into the accounting equation. Begin by
entering transaction a. Then, enter each transaction in the order
they occurred. (Use parentheses or a minus sign when entering
account decreases. Use only the necessary input lines.)
i Transactions Marlene and Pamela opened up MP Public Relations Firm by contributing $22,750 on July 1, 2009, in exchange for common stock. The firm borrowed $15,000 from the bank on July 1 . The note is a 1-year, 10% note, with both...
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. IA (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Home Depot Inc. paid...
More Info a. Maren started the business by depositing $11,000 in a business checking account on April 1 in exchange for common stock. b. The company provided services to clients and received $4,900 in cash. c. The company borrowed $1,900 from the bank for the business by signing a note. d. The company paid $900 of operating expenses. e. The company purchased a new computer for $3,400 cash to use to keep track of its customers, starting next month. f....
Show each of the following transactions in the accounting equation. Then, tell whether or not the original transaction as given is one that results in the recognition of revenue or expenses. a (Click the icon to view the transactions.) Enter the transactions in the accounting equation. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines. Some of the account names will be abbreviated. ) Begin by entering transaction a. Chico Inc. paid its...
Record adjustments and prepare financial statements. (LO 1, 2,
3, 4). The accounting records for Sony Snowboard Company, a
snowboard repair company, contained the following balances as of
December 31, 2008:
Sony Snowboard Company Balance Sheet
At December 31, 2008
Assets Cash...........................................
$40,000
Accounts receivable ................ 16,500
Land........................................... 20,000 Totals
......................................... $76,500
Liabilities and Shareholders’ equity
Accounts payable ............................ Common stock
................................. Retained
earnings............................
$17,000 45,000 14,500
$76,500
CHAPTER 3 • ACCRUALS AND DEFERRALS: TIMING IS EVERYTHING IN
ACCOUNTING 125The...
The following events occurred for Favata Company. a. Received $17,500 cash from owners and issued stock to them. b. Borrowed $14,500 cash from a bank and signed a note due later this year. c. Bought and received $1,550 of equipment on account. d. Purchased land for $27000; paid $2.500 in cash and signed a long-term note for $24.500. e. Purchased $10,500 of equipment; paid $2.500 in cash and charged the rest on account Required: For each of the events in...
a. Susan and Lucy opened up Gardening Made Easy by contributing $23,800 on July 1, 2009, in exchange for common stock. b. The firm borrowed $17,000 from the bank on July 1. The note is a 3-year, 8% note, with both principal and interest to be repaid on June 30, 2010. C. The firm prepaid a year of rent for $1,350 that started August 1, 2009. d. The firm paid $975 cash for operating expenses for the first month. e....
Most questions answered within 3 hours.
-
find H(e^Jtheta) at theta= 0, pi/10, pi/20, pi/2 for
the following:
a) H(e^Jtheta)= 1+e^Jtheta
b) H(e^Jtheta)=...
asked 16 minutes ago -
Home Corporation will open a new store on January 1. Based on
experience from its other...
asked 33 minutes ago -
In a neoclassical model, use the IS-LM to analyze the effect of
a permanent money supply...
asked 1 hour ago -
An electron passes through a point 2.67 cm from a long straight
wire as it moves...
asked 1 hour ago -
A grammar is a 4-tuple G, G = (Ν, Σ, Π, Σ, S) where, Ν is...
asked 2 hours ago -
In this part, calculate the present values. Use the Excel PV
function to compute the present...
asked 2 hours ago -
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 3 hours ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 3 hours ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 3 hours ago -
A sample of size 31 will be drawn from a population with mean 39
and standard...
asked 4 hours ago -
What is the effect on the P-value when a test is changed from a
two-tailed hypothesis...
asked 4 hours ago -
I wish to estimate µ, the mean of a population. After I collect
and an-
alyze...
asked 5 hours ago