Homework Answers
| COOKIE MOUNTAIN LEGAL | ||
| Income Statement | ||
| For the Month Ended June 31, 2018 | ||
| Revenues | ||
| Service Revenue | $9,100 | |
| Expenses: | ||
| Rent Expense | $750 | |
| Salaries and Wages Expense | $4,500 | |
| Utilities Expense | $500 | |
| Total Expenses [$750 + $4,500 + $500] | $5,750 | |
| Net income [$9,100 - $5,750] | $3,350 | |
.
.
| COOKIE MOUNTAIN LEGAL | |
| Retained Earnings Statement | |
| For the Month Ended June 31, 2018 | |
| Retained Earnings, July 1 | $0 |
| Add: Net Income [Refer income statement] | $3,350 |
| $3,350 | |
| Less: Dividends | $2,500 |
| Retained Earnings, July 31 | $850 |
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An analysis of the transactions made by Cookie Mountain Legal, a law firm, for the month...
An analysis of the transactions made by Crane Company, a certified public accounting firm, for the...
An analysis of the transactions made by Crane Company, a certified public accounting firm, for the month of August is shown below. Each change in revenues or expenses is explained. Assets = Liabilities + Stockholders' Equity Common Retained Earnings Stock + Revenues - Expenses - Dividend $16,000 Accounts Accounts Cash + Receivable + Supplies + Equipment = Payable + $16,000 -3,500 $5,500 -800 $800 4,500 $3,200 -1,200 -1,200 -3,000 -550 -400 -4,800 $7,700 Service Revenue risi o w o n...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets Liabilities Stockholders' Equity Cash+ A/R Supp. + Equip. Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends (1) $18,400 $18,400 Com. Stock $5,060 $3,950 -780 $780 4,500 $5,400 S9,900 (4) (5) 2,500 (6)1,300 Serv. Rev. -2,500 -$1,300 Div. -790 -$790 Rent Exp 410 -410 (9) -4,000...
wenging live Problem 3 (45 points) An analysis of the transactions made by Dewey, Cheatem &...
wenging live Problem 3 (45 points) An analysis of the transactions made by Dewey, Cheatem & Co., a law firm, for the month of July is shown below. Each increase and decrease in owner's equity is explained. Cash + Accounts Receivable Supplies - Equipment = Accounts Payable + Owner's Capital +$15,000 Investment +$6,000 +$3,500 +$750 +$7,600 + 10,000 Service Revenue 1. 2. 3. 4. 5. 6. 7. 8 9. 10. +$ 15,000 . 2,500 - 750 + 2,400 - 1,500...
Exercise 3-05 A tabular analysis of the transactions made during August 2022 by Sunland Company during...
Exercise 3-05 A tabular analysis of the transactions made during August 2022 by Sunland Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Cash + Stockholders' Equity Retained Earnings Revenues - Expenses - Dividends 1. $16,000 $5,030 $3,050 $580 i " ; i $5,700 $9,200 Serv. Rev. $16,000 -1,980 -580 3,500 -2,100 -2,500 -830...
Accounting Cycle Review E 0-4 A tabular analysis of the transactions made during August 2017 by...
Accounting Cycle Review E 0-4 A tabular analysis of the transactions made during August 2017 by Cullumber Company during its first month of operations is shown below. Each increase and decrease in stockholders’ equity is explained. Assets = Liabilities + Stockholders’ Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues – Expenses – Dividends (1) $21,400 $21,400 Com. Stock (2) –1,500 $5,100 $3,600 (3) –800 $800 (4) 4,100 $6,400 $10,500 Serv....
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its...
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets - Cash + A/R + Supp. + Equip. Liabilities + Stockholders' Equity Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses Dividends $ 22,100 $22,100 - $5,030 $3,450 -1,580 -790 3,500 $790 Serv. Rev. $6,300 -1.700 -$1,500 -1.500 6 N -$820 Rent Exp. -820 500...
Exercise 3-4 Your answer is incorrect. Try again. A tabular analysis of the transactions made during...
Exercise 3-4
Your answer is incorrect. Try again.
A tabular analysis of the transactions made during August 2017
by Wildhorse Co. during its first month of operations is shown
below. Each increase and decrease in stockholders’ equity is
explained.
Assets
=
Liabilities
+
Stockholders’ Equity
Cash
+
A/R
+
Supp.
+
Equip.
=
Accounts Payable
+
Common Stock
+
Retained Earnings
Revenues
–
Expenses
–
Dividends
(1)
$21,700
$21,700
Com. Stock
(2)
–1,200
$4,900
$3,700
(3)
–650
$650
(4)
5,100...
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its...
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Stockholders' Equity Assets Liabilities + Supp. + Equip. Accounts Payable + Common Stock +Retained Earnings +A/R Cash Expenses Dividends Revenues $22,100 $22,100 1. $3,450 $5,030 -1,580 2. $790 3. -790 Serv. Rev $9,800 $6,300 3,500 4. -1,700 -1,700 5. -$1,500 -1,500 6. Rent Exp. -$820 -820 7. -500...
Atabular analysis of the transactions made during August 2022 by Sheridan Company during its first month...
Atabular analysis of the transactions made during August 2022 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained Assets Cash + AR - Supp,Equip Liabilities - Stockholders'Equity Accounts Common + Payable Stock Retained Earnings Revenues Expenses $21.300 $3,750 Div 1 2 3. $21.300 - 1.290 -820 $5.000 $8.20 4 3,700 $5.700 $9,400 5. -1.600 -1,600 -1.400 7 - 770 -5770 8 520 -520 9. -3.100 -3,100 10 340...
A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first...
A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + Stockholders' Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses - Dividends 1. $15,500 $15,500 -1,000 $4,900 $3,900 -750 $750 3,700 $5,900 $9,600 Serv. Rev. -1,600 - 1,600 -1,000 -$1,000 -770 -$770 Rent Exp....
An analysis of the transactions made by Crane Company, a certified public accounting firm, for the month of August is shown below. Each change in revenues or expenses is explained. Assets = Liabilities + Stockholders' Equity Common Retained Earnings Stock + Revenues - Expenses - Dividend $16,000 Accounts Accounts Cash + Receivable + Supplies + Equipment = Payable + $16,000 -3,500 $5,500 -800 $800 4,500 $3,200 -1,200 -1,200 -3,000 -550 -400 -4,800 $7,700 Service Revenue risi o w o n...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets Liabilities Stockholders' Equity Cash+ A/R Supp. + Equip. Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends (1) $18,400 $18,400 Com. Stock $5,060 $3,950 -780 $780 4,500 $5,400 S9,900 (4) (5) 2,500 (6)1,300 Serv. Rev. -2,500 -$1,300 Div. -790 -$790 Rent Exp 410 -410 (9) -4,000...
wenging live Problem 3 (45 points) An analysis of the transactions made by Dewey, Cheatem & Co., a law firm, for the month of July is shown below. Each increase and decrease in owner's equity is explained. Cash + Accounts Receivable Supplies - Equipment = Accounts Payable + Owner's Capital +$15,000 Investment +$6,000 +$3,500 +$750 +$7,600 + 10,000 Service Revenue 1. 2. 3. 4. 5. 6. 7. 8 9. 10. +$ 15,000 . 2,500 - 750 + 2,400 - 1,500...
Exercise 3-05 A tabular analysis of the transactions made during August 2022 by Sunland Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Cash + Stockholders' Equity Retained Earnings Revenues - Expenses - Dividends 1. $16,000 $5,030 $3,050 $580 i " ; i $5,700 $9,200 Serv. Rev. $16,000 -1,980 -580 3,500 -2,100 -2,500 -830...
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets - Cash + A/R + Supp. + Equip. Liabilities + Stockholders' Equity Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses Dividends $ 22,100 $22,100 - $5,030 $3,450 -1,580 -790 3,500 $790 Serv. Rev. $6,300 -1.700 -$1,500 -1.500 6 N -$820 Rent Exp. -820 500...
Exercise 3-4
Your answer is incorrect. Try again.
A tabular analysis of the transactions made during August 2017
by Wildhorse Co. during its first month of operations is shown
below. Each increase and decrease in stockholders’ equity is
explained.
Assets
=
Liabilities
+
Stockholders’ Equity
Cash
+
A/R
+
Supp.
+
Equip.
=
Accounts Payable
+
Common Stock
+
Retained Earnings
Revenues
–
Expenses
–
Dividends
(1)
$21,700
$21,700
Com. Stock
(2)
–1,200
$4,900
$3,700
(3)
–650
$650
(4)
5,100...
A tabular analysis of the transactions made during August 2022 by Carla Vista Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Stockholders' Equity Assets Liabilities + Supp. + Equip. Accounts Payable + Common Stock +Retained Earnings +A/R Cash Expenses Dividends Revenues $22,100 $22,100 1. $3,450 $5,030 -1,580 2. $790 3. -790 Serv. Rev $9,800 $6,300 3,500 4. -1,700 -1,700 5. -$1,500 -1,500 6. Rent Exp. -$820 -820 7. -500...
Atabular analysis of the transactions made during August 2022 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained Assets Cash + AR - Supp,Equip Liabilities - Stockholders'Equity Accounts Common + Payable Stock Retained Earnings Revenues Expenses $21.300 $3,750 Div 1 2 3. $21.300 - 1.290 -820 $5.000 $8.20 4 3,700 $5.700 $9,400 5. -1.600 -1,600 -1.400 7 - 770 -5770 8 520 -520 9. -3.100 -3,100 10 340...
A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + Stockholders' Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses - Dividends 1. $15,500 $15,500 -1,000 $4,900 $3,900 -750 $750 3,700 $5,900 $9,600 Serv. Rev. -1,600 - 1,600 -1,000 -$1,000 -770 -$770 Rent Exp....
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