Question

E2-13. four different companies, sierra, tango

c. Paid cash for utilities expense. d. Paid cash for rent expense. e. Paid cash dividends. E2-10 Transactions Obj 1,2, 4 Speedy Delivery Service had the following selected transactions during April: 1. Received cash from issuance of capital stock, $100,000. 2. Paid rent for April, $4,200. 3. Paid advertising expense, $3,000. 4. Received cash for providing delivery services, $27,000. 5. Purchased supplies for cash, $2,500. 6. Billed customers for delivery services on account, $81,200. 7. Paid creditors on account, $8,300. 8. Received cash from customers on account, $25,600. 9. Determined that the cost of supplies on hand was $900; therefore, $1,600 of supplies had been used during the month. 10. Paid dividends, $3,000. Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1) through (10), in a vertical column, and inserting at the right of each number the appropriate letter from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity. Obj 1,2, 4 Marelh are pre- vb. $11,000

Answer 1

The answer for E2-13 as per your request is attached in below picture

If you have any doubts or answer is not in the format as you expected, please send me a comment before rating my answer and i will clarify the doubt

Thanks

The answer for E2-13 Semua calculation of changes in Equity & Retained casting o f Total Assets - Total lia = Equity & Retained earnings Begining 490,000 -175000 = 315000 Ending I 790000 +2990007 476000 161000 Changes in equity & retan earn! C476000 - 315.000) al Spessa: I changes in equity & retain = $161000 less: Issue of capital stock = $100000) Cincreases equity here recluce) Add: Dividends paid L = $ 3000 I (reduced retain earning & heries added back) Net profit = $64,000

Page 6) Tango Changes in equity & retain = $161000 less! Issue of capital stock =( $ 100000) Add: Dividend paid = $3000 Add: Additiodal dividend paid = $ 55000 Net profit $119000 c) Yankee Changes in equity & Gretain = $161000 Less! Issell of capital stock = ($100000) Add: Dividend paid oes & $3000 Less: Additional issue of = ($75000) capital Net loss woga a $ 11000

d) Zulee changes in equity & retain = $161000 Tess: Issue of cap stock = ($100000) lodd: Dividend paid = $ 3000 Trees Additional issue of capital - ($75000) Dad: Additional dividend paid = $55000 Net profit = $49000