PLEASE SOLVE THIS PART
Prepare a equation analysis. (If a transaction
causes a decrease in Assets, Liabilities or Shareholders' Equity,
place a negative sign (or parentheses) in front of the amount
entered for the particular Asset, Liability or Equity item that was
reduced. See Illustration 3-2 for example.)
Homework Answers
| Assets | = | Liabilities | + | Shareholder's Equity | |||||||||||
| Retained Earnings | |||||||||||||||
| Cash | + | Supplies | + | Accounts Receivable | = | Accounts Payable | + | Unearned Revenue | + | Common Shares | + | Serevice Revenues | - | Income Tax Expense | |
| Jun-01 | 2,340 | + | + | = | + | 2,340 | - | ||||||||
| Jun-04 | + | 259 | + | = | 259 | + | - | ||||||||
| Jun-07 | + | + | 328 | = | + | 328 | - | ||||||||
| Jun-18 | 213 | + | - | 213 | = | + | - | ||||||||
| Jun-25 | + | + | = | + | - | ||||||||||
| Jun-27 | 201 | + | + | = | + | 201 | - | ||||||||
| Jun-28 | -259 | + | + | = | -259 | + | - | ||||||||
| Jun-29 | -93 | + | + | = | + | - | 93 | ||||||||
Kindly comment if you need further assistance. Thanks‼!
Add Answer to:
PLEASE SOLVE THIS PART
Prepare a equation analysis. (If a transaction
causes a decrease in Assets,...
Options; Accounts Payable, Equipment, Common Shares, Cash, Rent Expense, Supplies, No Transaction, Income Tax Expense, Unearned...
Options; Accounts Payable, Equipment, Common Shares, Cash, Rent
Expense, Supplies, No Transaction, Income Tax Expense, Unearned
Revenue, Accounts Receivable, Service Revenue.
Question 3 Transactions for Crane Ltd. for the month of June, its first month of operations, are presented below: June 1 Issued common shares to shareholders in exchange for $2,550 cash 4 Purchased supplies on account for $256 7 Billed J. Kronsnoble $278 for welding work done. 18 Received partial payment of $192 from J. Kronsnoble for work billed...
Brief Exercise 3-5 a-c Transactions for Sunland Ltd. for the month of June, its first month...
Brief Exercise 3-5 a-c Transactions for Sunland Ltd. for the month of June, its first month of operations, are presented below. June 1 Issued common shares to shareholders in exchange for $2,320 cash. 4 Purchased supplies on account for $251. 7 Billed J. Kronsnoble $295 for welding work done. 18 Received partial payment of $188 from J. Kronsnoble for work billed on June 7. 25 Hired a new employee to start work on July 3. 27 Received cash of $213...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions for Blossom Ltd. for the month of June, its first month of operations, are presented below. June 1 4 7 18 Issued common shares to shareholders in exchange for $2.000 cash. Purchased supplies on account for $200. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to...
part a: prepare an income statement Exercise 4-12 (Part Level Submission) Fraser Valley Services Ltd. reports...
part a: prepare an income statement
Exercise 4-12 (Part Level Submission) Fraser Valley Services Ltd. reports the following adjusted trial balance at July 31, 2018: Credit FRASER VALLEY SERVICES LTD. Adjusted Trial Balance July 31, 2018 Debit Cash 57,450 Accounts receivable 19,915 Supplies 3,440 Prepaid insurance 3,540 Equipment 25,600 Accumulated depreciation equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Unearned revenue Bank loan payable, 2021 Common shares Retained earnings Dividends declared 310 Service revenue Salaries expense...
Record the journal entries in order as presented in the problem. At June 30, 2018, the...
Record the journal entries in order as presented in the
problem.
At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd. 's post-closing trial balance was as follows: Debit Credit Cash Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $15,700 1,300 700 $300 400 1,000 3,400 12,600 $17,700 $17,700 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the...
part a. Record the above transactions. (Record journal entries in the order presented in the problem....
part a. Record the above
transactions. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. )
part b. Prepare T accounts, enter any
opening balances , post the journal entries and calculate and enter
balances. (Post entries in the order of journal entries
presented above. If...
At June 30, 2017, the end of its most recent fiscal year, Green River Computer Consultants'...
At June 30, 2017, the end of its most recent fiscal year, Green River Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $5,230 Accounts receivable 1,200 Supplies 690 Accounts payable $400 Unearned service revenue 1,120 Common stock 3,600 Retained earnings 2,000 $7,120 $7,120 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Green River conducted the following transactions during July 2017, and adjusts its accounts monthly. July 1 Purchased...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are presented below. Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business. Purchases equipment on account for $1.200. 3 $800 cash is paid to landlord for June rent. Bills P. Leonard $300 after completing welding work done on account June 1 2 12 Identify the accounts to be debited and credited for each transaction. Account Debited Account...
To create an income statement. On July 31, 2018, the following alphabetically ordered list of accounts...
To create an income statement.
On July 31, 2018, the following alphabetically ordered list of accounts and amounts was available for Wildhorse Repair Services Ltd Accounts payable $ 2,100 Equipment $9,500 Accounts receivable 3,000 Retained earnings 19,250 Accumulated depreciation equipment 1,900 Salaries payable 1,360 Accumulated depreciation-vehicles 5,500 Supplies 920 Bank loan payable (non-current) 4,300 Unearned revenue 1,210 Cash 8.900 Vehicles 27,500 Common shares 14,200 During August, the following summary transactions were completed: Aug. 1 Paid $270 for advertising on Kijiji...
part a: Record the above transactions. (Record journal entries in the order presented in the problem....
part a: Record the above
transactions. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. )
Part b: Prepare T accounts, enter any
opening balances , post the journal entries and calculate and enter
balances. (Post entries in the order of journal entries
presented above. If...
Options; Accounts Payable, Equipment, Common Shares, Cash, Rent
Expense, Supplies, No Transaction, Income Tax Expense, Unearned
Revenue, Accounts Receivable, Service Revenue.
Question 3 Transactions for Crane Ltd. for the month of June, its first month of operations, are presented below: June 1 Issued common shares to shareholders in exchange for $2,550 cash 4 Purchased supplies on account for $256 7 Billed J. Kronsnoble $278 for welding work done. 18 Received partial payment of $192 from J. Kronsnoble for work billed...
Brief Exercise 3-5 a-c Transactions for Sunland Ltd. for the month of June, its first month of operations, are presented below. June 1 Issued common shares to shareholders in exchange for $2,320 cash. 4 Purchased supplies on account for $251. 7 Billed J. Kronsnoble $295 for welding work done. 18 Received partial payment of $188 from J. Kronsnoble for work billed on June 7. 25 Hired a new employee to start work on July 3. 27 Received cash of $213...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions for Blossom Ltd. for the month of June, its first month of operations, are presented below. June 1 4 7 18 Issued common shares to shareholders in exchange for $2.000 cash. Purchased supplies on account for $200. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to...
part a: prepare an income statement
Exercise 4-12 (Part Level Submission) Fraser Valley Services Ltd. reports the following adjusted trial balance at July 31, 2018: Credit FRASER VALLEY SERVICES LTD. Adjusted Trial Balance July 31, 2018 Debit Cash 57,450 Accounts receivable 19,915 Supplies 3,440 Prepaid insurance 3,540 Equipment 25,600 Accumulated depreciation equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Unearned revenue Bank loan payable, 2021 Common shares Retained earnings Dividends declared 310 Service revenue Salaries expense...
Record the journal entries in order as presented in the
problem.
At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd. 's post-closing trial balance was as follows: Debit Credit Cash Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $15,700 1,300 700 $300 400 1,000 3,400 12,600 $17,700 $17,700 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the...
part a. Record the above
transactions. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. )
part b. Prepare T accounts, enter any
opening balances , post the journal entries and calculate and enter
balances. (Post entries in the order of journal entries
presented above. If...
At June 30, 2017, the end of its most recent fiscal year, Green River Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $5,230 Accounts receivable 1,200 Supplies 690 Accounts payable $400 Unearned service revenue 1,120 Common stock 3,600 Retained earnings 2,000 $7,120 $7,120 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Green River conducted the following transactions during July 2017, and adjusts its accounts monthly. July 1 Purchased...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are presented below. Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business. Purchases equipment on account for $1.200. 3 $800 cash is paid to landlord for June rent. Bills P. Leonard $300 after completing welding work done on account June 1 2 12 Identify the accounts to be debited and credited for each transaction. Account Debited Account...
To create an income statement.
On July 31, 2018, the following alphabetically ordered list of accounts and amounts was available for Wildhorse Repair Services Ltd Accounts payable $ 2,100 Equipment $9,500 Accounts receivable 3,000 Retained earnings 19,250 Accumulated depreciation equipment 1,900 Salaries payable 1,360 Accumulated depreciation-vehicles 5,500 Supplies 920 Bank loan payable (non-current) 4,300 Unearned revenue 1,210 Cash 8.900 Vehicles 27,500 Common shares 14,200 During August, the following summary transactions were completed: Aug. 1 Paid $270 for advertising on Kijiji...
part a: Record the above
transactions. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. )
Part b: Prepare T accounts, enter any
opening balances , post the journal entries and calculate and enter
balances. (Post entries in the order of journal entries
presented above. If...
Most questions answered within 3 hours.
-
if the marginal revenue on each MRI is $2500, and the
marginal cost for each is...
asked 5 seconds ago -
For a reaction, reagents --->products, it's forwarding rate
(rate of products formation) is proportional to the...
asked 2 minutes ago -
The amounts of nicotine in a certain brand of cigarette are
normally distributed with a mean...
asked 3 minutes ago -
What did Butler and Hobbes contribute to our understanding of
utilitarianism?
asked 4 minutes ago -
History
Lincoln's religious thought was almost exclusively shaped by his
Calvinist upbringing.
True
False
QUESTION 6...
asked 4 minutes ago -
In a two-way factorial ANOVA, the final F-ratio for
factor AxB is determined by dividing _____...
asked 5 minutes ago -
If 1.6g of CH4 reacts with oxygen gas to form water and carbon
dioxide what is...
asked 3 minutes ago -
Applying the content from Primal Leadership, and the format
Personal Change Plan on p. 110 Boyatzis...
asked 6 minutes ago -
Your black labrador has a genotype of BbEe.
Which of the following is correct? Select all...
asked 10 minutes ago -
Which of the following statements explains why the cost of
advertising might be relevant to a...
asked 20 minutes ago -
NO3- nitrate ion, what is the symmetry operationof rotation of
it?
asked 25 minutes ago -
Block A, with mass mA, is initially at rest on a frictionless
horizontal floor. Block B,...
asked 26 minutes ago