I just need to fill out the chart for IB-7 but IB-6 is the information provided to solve IB-7
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I just need to fill out the chart for IB-7 but IB-6 is the
information provided...
Determine which accounts increase and/or decrease for each of the transactions. 1B-6. (Similar to problem 1B-2)...
Determine which accounts increase and/or decrease for each of
the transactions.
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased APRIL borrowed $8,000 from the bank on a note. a. b. APRIL purchased a desk and two chairs for $1,500 cash. C. APRIL purchased supplies on account for $700. d....
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events...
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased a. APRIL borrowed $8,000 from the bank on a note. b. APRIL purchased a desk and two chairs for $1,500 cash. c. APRIL purchased supplies on account for $700. d. APRIL provided services to others for $7,200 cash. e. APRIL provided...
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events...
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased a. b. é osobis APRIL borrowed $6,400 from the bank on a note. APRIL purchased a desk and two chairs for $1,600 cash. APRIL purchased supplies on account for $700. APRIL provided services to others for $8,300 cash. APRIL provided services...
1B-8. LEAH Inc. purchases a parcel of land for $100,000. Sometime later a freeway is built...
1B-8. LEAH Inc. purchases a parcel of land for $100,000. Sometime later a freeway is built near the property. According to many experts the freeway increases the value of the land to $7,000,000. Required: 1. What would be the value of LEAH's property according to an accountant using US GAAP? 2. What would be the value of LEAH's property according to an accountant using mark-to-market? 1. Explain the difference between historical cost and current cost. 1B-6. (Similar to problem 1B-2)...
I. Journalize each transaction below: April 1: Provided services totaling $15,000; received 15.25% and the remainder...
I. Journalize each transaction below: April 1: Provided services totaling $15,000; received 15.25% and the remainder is on account 2: Purchased supplies costing $10,500; paid 15% and the remainder is on account 3: Received $22,000 from customer for work to be completed at a future date 4: Purchased a 1 year insurance policy for $6,000 cash 5: Paid $25,000 in advance for rent 7: Paid $1000 owed on account 8: Paid $8,000 in advance for advertising 9: Stockholders invested $85,000...
During 2022, its first year of operations as a delivery service. Ayayal Corp.entered into the following...
During 2022, its first year of operations as a delivery service. Ayayal Corp.entered into the following transactions 1 Issued shares of common stock to investors in exchange for $100.000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50.000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2.700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Pald salaries of $26,000. 9. Pald a dividend...
Hello and Good Morning, I need help with an Accounting assignment. I am having some difficulties....
Hello and Good Morning, I need help with an Accounting assignment. I am having some difficulties. Actually, as a part of this assignment, I need to provide journal entries, general ledger and then create a trial balance. I just need to know that I am on the right track because it does not seem correct what I have thus far. Thanks. During its first month of operation, the Leonard Landscaping Company, which, specializes in landscaping services, completed the following transactions....
fill out chart with information provided thankyou Each of the following independent situations represents amounts shown...
fill out chart with information provided
thankyou
Each of the following independent situations represents amounts shown on the four basic financial statements. Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements. 1. Revenues = $26,000; Expenses = $17,500; Net income = 2. Increase in stockholders' equity = $15,000; Issuance of common stock = $12,000; Net income = $11,500; Dividends = 3. Assets = $23,500; Stockholders' equity = $16,000; Liabilities = 4....
Please help to solve part a to c, I need this one so much thanks a...
Please help to solve part a to c, I need this one so much thanks
a lot.
The following account balances are provided for Green Goblin Corporation at December 31 2018: Title Accounts payable Accounts receivable Bank loan due June 1, 2020 Cash Commissions payable Salaries and wages payable Common stock (no par) Equipment (net) Interest payable Interest receivable Investments Prepaid expenses Retained eamings Supplies Unearmed revenue Balance 65,000 90,000 154,000 45,000 12,000 16,000 200,000 318,750 1200 450 33,000 28,000...
I need the whole chart filled out Drs. Glenn Feltham and David Ambrose began operations of...
I need the whole chart filled out
Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify: Debit $8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest...
Determine which accounts increase and/or decrease for each of
the transactions.
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased APRIL borrowed $8,000 from the bank on a note. a. b. APRIL purchased a desk and two chairs for $1,500 cash. C. APRIL purchased supplies on account for $700. d....
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased a. APRIL borrowed $8,000 from the bank on a note. b. APRIL purchased a desk and two chairs for $1,500 cash. c. APRIL purchased supplies on account for $700. d. APRIL provided services to others for $7,200 cash. e. APRIL provided...
1B-6. (Similar to problem 1B-2) Show the effect on the accounting equation of the following events for the APRIL Company. Example: Investors purchased common stock in APRIL for $1,000 cash. Answer: Assets (cash) increased Owners' equity (common stock) increased a. b. é osobis APRIL borrowed $6,400 from the bank on a note. APRIL purchased a desk and two chairs for $1,600 cash. APRIL purchased supplies on account for $700. APRIL provided services to others for $8,300 cash. APRIL provided services...
1B-8. LEAH Inc. purchases a parcel of land for $100,000. Sometime later a freeway is built near the property. According to many experts the freeway increases the value of the land to $7,000,000. Required: 1. What would be the value of LEAH's property according to an accountant using US GAAP? 2. What would be the value of LEAH's property according to an accountant using mark-to-market? 1. Explain the difference between historical cost and current cost. 1B-6. (Similar to problem 1B-2)...
I. Journalize each transaction below: April 1: Provided services totaling $15,000; received 15.25% and the remainder is on account 2: Purchased supplies costing $10,500; paid 15% and the remainder is on account 3: Received $22,000 from customer for work to be completed at a future date 4: Purchased a 1 year insurance policy for $6,000 cash 5: Paid $25,000 in advance for rent 7: Paid $1000 owed on account 8: Paid $8,000 in advance for advertising 9: Stockholders invested $85,000...
During 2022, its first year of operations as a delivery service. Ayayal Corp.entered into the following transactions 1 Issued shares of common stock to investors in exchange for $100.000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50.000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2.700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Pald salaries of $26,000. 9. Pald a dividend...
fill out chart with information provided
thankyou
Each of the following independent situations represents amounts shown on the four basic financial statements. Fill in the formulas and missing blanks using your knowledge of amounts that appear on the financial statements. 1. Revenues = $26,000; Expenses = $17,500; Net income = 2. Increase in stockholders' equity = $15,000; Issuance of common stock = $12,000; Net income = $11,500; Dividends = 3. Assets = $23,500; Stockholders' equity = $16,000; Liabilities = 4....
Please help to solve part a to c, I need this one so much thanks
a lot.
The following account balances are provided for Green Goblin Corporation at December 31 2018: Title Accounts payable Accounts receivable Bank loan due June 1, 2020 Cash Commissions payable Salaries and wages payable Common stock (no par) Equipment (net) Interest payable Interest receivable Investments Prepaid expenses Retained eamings Supplies Unearmed revenue Balance 65,000 90,000 154,000 45,000 12,000 16,000 200,000 318,750 1200 450 33,000 28,000...
I need the whole chart filled out
Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify: Debit $8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest...
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