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Homework Answers
1) Accounting equation
| Asset | = | Liabilities | + | Stockholder's equity | |
| a) | 42000 | 42000 | |||
| b) Increase | 34000 | ||||
| b) Decrease | -34000 | ||||
| c) | 27000 | 27000 | |||
| d) | -4200 | -4200 |
3) Trial balance
| Debit | Credit | |
| Cash | 30700 | |
| Supplies | 2100 | |
| Land | 19500 | |
| Equipment | 8100 | |
| Account payable | 2100 | |
| Notes payable | 19500 | |
| Common Stock | 33000 | |
| Service revenue | 12100 | |
| Salaries expense | 6300 | |
| Totals | 66700 | 66700 |
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Required Information [The following Information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $38,000 in cash. 2. January 5 Purchase land for $22, eee. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,6ee cash. 4. January 12...
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can someone please help with the question below? Required information The following information applies to the...
can someone please help with the question below?
Required information The following information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions 1. January 1 Issue 10,000 shares of common stock in exchange for $33,000 in cash. 2. January 5 Purchase land for $19,500. A note payable is signed for the full amount 3. January 9 Purchase storage container...
Required information [The following information applies to the questions displayed below.] Green Wave Company plans to...
Required information [The following information applies to the questions displayed below.] Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $38,000 in cash. 2. January 5 Purchase land for $22,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,600 cash. 4. January 12 Hire...
Green Wave Company plans to own and operate a storage rental facility. For the first month...
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Required information The following information applies to the questions displayed below.) Green Wave Company plans to...
Required information The following information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $39,000 in cash. 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,700 cash. 4. January 12 lire...
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The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $33,000 b. Receive cash of $25,000 from customers in (a) above, c. Purchase bike equipment by signing a note with the bank for $18,000, d. Pay utilities of $3,300 for the current month, Analyze each transaction and indicate the amount of increases and decreases in the accounting equation (Decreases to account classifications should be entered as a negative.) Transaction...
Required Information [The following Information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $38,000 in cash. 2. January 5 Purchase land for $22, eee. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,6ee cash. 4. January 12...
Prepare a trial balance given the following transactions
Required information [The following information applies to the questions displayed below.] Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $32,000 in cash. 2. January 5 Purchase land for $19,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container...
A company has the following transactions during the month of February February 2 Pay $670 for radio advertising for February. February 7 Purchase beauty supplies of $1,270 on account. February 14 Provide beauty services of $2,750 to customers and receive cash. February 15 Pay employee salaries for the current month of $870. February 25 Provide beauty services of $970 to customers on account. February 28 Pay utility bill for the current month of $270. Required: Record each transaction. The company...
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can someone please help with the question below?
Required information The following information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions 1. January 1 Issue 10,000 shares of common stock in exchange for $33,000 in cash. 2. January 5 Purchase land for $19,500. A note payable is signed for the full amount 3. January 9 Purchase storage container...
Required information [The following information applies to the questions displayed below.] Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $38,000 in cash. 2. January 5 Purchase land for $22,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,600 cash. 4. January 12 Hire...
Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1 Issue 10, 000 shares of common stock in exchange for $36, 000 in cash. 5 Purchase land for $21, 000. A note payable is signed for the full amount. 9 Purchase storage container equipment for $8, 400 cash. January January January January 12 Hire three employees for $2,400 per month. 5. January 18 Receive cash...
Required information The following information applies to the questions displayed below.) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $39,000 in cash. 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,700 cash. 4. January 12 lire...
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