Homework Answers
| Assets | Liabilities | Equity | Net income | |
| Transaction A | U100000 | NE | U100000 | U100000 |
| Transaction B | NE | O100000 | U100000 | U100000 |
| Total | U100000 | O100000 | U200000 | U200000 |
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the total of cummulatice effect of errors has one part that is
wrong as i got...
cannot figure out how to solve for the cumulative effects. any help/answers with steps would be...
cannot figure out how to solve for the cumulative effects. any
help/answers with steps would be appreciated
0.57 2 pts You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE that would have been required at December 31st. Transactions: A. On May 1st, 2019, Desert paid $180,000...
You ve been hired by Desert Company to review several transactions that were omitted as Adjusting...
You ve been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below. record the appropriate AJE that would have been required at December 31st. Transactions A. On May 1st, 2019, Desert paid $180,000 in advance for 18 months rent on its new warehouse. At the time, Desert debited a Nominal Account, B....
These are both part of the same question. I got partial credit (.5/2) for both so...
These are both part of the same question. I got partial credit
(.5/2) for both so I am unsure what is right and whats wrong. need
help figuring out correct account title and debit/credit amounts.
Thank you.
You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE...
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...
Hello, I had gotten these questions wrong and am adding a photo of my work and...
Hello, I had gotten these questions wrong and am adding a photo
of my work and I was wondering if you guys could help me find the
correct answer to these. Thank you, will upvote but please hurry if
possible.
Here is the work
Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance: Account Debit Credit Cash $ 430,900...
please help with all, automatic thumbs up! he withdrawals by an owner has what effect on...
please help with all, automatic thumbs up!
he withdrawals by an owner has what effect on owner what effect on owner's equity? C. 26. a. increases b. cecreases c. ro effect The 27. In July a company pays two years adve. y pays two years' advertising in advance. December 31 adjusting en ry is: a. a debit to Prepaid Adverti 1C to Prepaid Advertising and a credit to Advertising Expense. è debit to Advertising Expense and a credit g Expense...
QUESTION 54 Each of the following transactions for Morrison Company requires an adjusting entry, which if...
QUESTION 54 Each of the following transactions for Morrison Company requires an adjusting entry, which if omitted, will overstate or understate assets, liabilities, owner's equity, revenues, expenses, or net income. Indicate the amount and direction of the misstatement that would result if the end of period adjusting entry suggested by the transaction was omitted. Place your results in the table following the transactions and use (+) for overstate, (-) for understate, and (NE) for no effect. 1. Morrison purchased supplies...
for the first to questions, how do we get to the correct answer? for the last question, what is the correct answer, ple...
for the first to questions, how do we get to the correct
answer? for the last question, what is the correct answer, please
please help me understand
Your Answer Correct Answer Your answer is correct. Oriole Company recorded journal entries for the declaration of $251500 of dividends, the $163500 increase in accounts receivable for services rendered, and the purchase of equipment for $106000. What net effect do these entries have on stockholders' equity? Decrease of $194000 Decrease of $357500. Decrease...
Exercise 3-20A Determining the effect of errors on the trial balance LO 3-3 Explain how each...
Exercise 3-20A Determining the effect of errors on the trial balance LO 3-3 Explain how each of the following posting errors affects a trial balance. State whether the trial balance will be out of balance because of the posting error, and indicate which side of the trial balance will have a higher amount after each independent entry is posted. If the posting error does not affect the equality of debits and credits in the trial balance, state that the error...
Question 4 During the month of August, Karlsson Industries had the following transactions: Aug. 2 Paid...
Question 4 During the month of August, Karlsson Industries had the following transactions: Aug. 2 Paid cash for the August rent of $1,500. Aug. 6 Purchased supplies of $250 on account. Aug. 10 Collected $5,700 from customers on account. Aug. 15 Received $2,200 cash for services to be rendered in September. Aug. 21 Paid for supplies purchased on account on August 6. Aug. 28 Billed customers for $7,500 for services provided in August. Aug. 31 Paid $150 cash for utilities...
cannot figure out how to solve for the cumulative effects. any
help/answers with steps would be appreciated
0.57 2 pts You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE that would have been required at December 31st. Transactions: A. On May 1st, 2019, Desert paid $180,000...
You ve been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below. record the appropriate AJE that would have been required at December 31st. Transactions A. On May 1st, 2019, Desert paid $180,000 in advance for 18 months rent on its new warehouse. At the time, Desert debited a Nominal Account, B....
These are both part of the same question. I got partial credit
(.5/2) for both so I am unsure what is right and whats wrong. need
help figuring out correct account title and debit/credit amounts.
Thank you.
You've been hired by Desert Company to review several transactions that were omitted as Adjusting Entries at December 31, 2019, as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE...
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...
Hello, I had gotten these questions wrong and am adding a photo
of my work and I was wondering if you guys could help me find the
correct answer to these. Thank you, will upvote but please hurry if
possible.
Here is the work
Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance: Account Debit Credit Cash $ 430,900...
please help with all, automatic thumbs up!
he withdrawals by an owner has what effect on owner what effect on owner's equity? C. 26. a. increases b. cecreases c. ro effect The 27. In July a company pays two years adve. y pays two years' advertising in advance. December 31 adjusting en ry is: a. a debit to Prepaid Adverti 1C to Prepaid Advertising and a credit to Advertising Expense. è debit to Advertising Expense and a credit g Expense...
QUESTION 54 Each of the following transactions for Morrison Company requires an adjusting entry, which if omitted, will overstate or understate assets, liabilities, owner's equity, revenues, expenses, or net income. Indicate the amount and direction of the misstatement that would result if the end of period adjusting entry suggested by the transaction was omitted. Place your results in the table following the transactions and use (+) for overstate, (-) for understate, and (NE) for no effect. 1. Morrison purchased supplies...
for the first to questions, how do we get to the correct
answer? for the last question, what is the correct answer, please
please help me understand
Your Answer Correct Answer Your answer is correct. Oriole Company recorded journal entries for the declaration of $251500 of dividends, the $163500 increase in accounts receivable for services rendered, and the purchase of equipment for $106000. What net effect do these entries have on stockholders' equity? Decrease of $194000 Decrease of $357500. Decrease...
Exercise 3-20A Determining the effect of errors on the trial balance LO 3-3 Explain how each of the following posting errors affects a trial balance. State whether the trial balance will be out of balance because of the posting error, and indicate which side of the trial balance will have a higher amount after each independent entry is posted. If the posting error does not affect the equality of debits and credits in the trial balance, state that the error...
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