Homework Answers
Accounting equation
| Assets | = | Liabilities | + | Stockholder's equity | ||||
| a. | Cash | 470000 | Common Stock | 470000 | ||||
| b | Cash | 150000 | Bank loan | 150000 | ||||
| c | Building | 202000 | Notes payable | 118000 | ||||
| Cash | -84000 | |||||||
| d | Equipment | 108000 | ||||||
| Cash | -108000 | |||||||
| e | Supplies | 108000 | Account payable | 108000 | ||||
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The following information on displayed below. Bearings & Bakes Corporation ( BB) was incorporated as a...
[The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated...
[The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company’s accounts included the following at June 30: Accounts Payable $ 88,000 Buildings 650,000 Cash 105,000 Common Stock 320,000 Equipment 178,000 Land 519,000 Notes Payable (long-term) 8,000 Retained Earnings 1,041,000 Supplies 5,000 During the month of July, the company had the following activities: A-Issued 4,400 shares of common stock for $440,000 cash. B-Borrowed $135,000 cash from a local bank,...
Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company’s accounts included the...
Bearings & Brakes
Corporation (B&B) was incorporated as a private company. The
company’s accounts included the following at June 30: Accounts
Payable $ 88,000 Buildings 650,000 Cash 105,000 Common Stock
320,000 Equipment 178,000 Land 519,000 Notes Payable (long-term)
8,000 Retained Earnings 1,041,000 Supplies 5,000 During the month
of July, the company had the following activities: Issued 4,400
shares of common stock for $440,000 cash. Borrowed $135,000 cash
from a local bank, payable in four years. Bought a building for
$196,000;...
[The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as...
[The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The company’s accounts included the following at June 30: Accounts Payable $ 27,400 Buildings 146,000 Cash 52,750 Common Stock 190,000 Equipment 140,000 Land 220,000 Notes Payable (long-term) 5,950 Retained Earnings 342,700 Supplies 7,300 During the month of July, the company had the following activities: Issued 6,000 shares of common stock for $600,000 cash. Borrowed $151,000 cash from a local bank, payable...
NGLUNUBUOLIUR The following information applies to the questions displayed below) Deliberate Speed Corporation (DSC) was incorporated...
NGLUNUBUOLIUR The following information applies to the questions displayed below) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 24,000 150,000 56,250 140,000 161,000 219,000 6,950 431,600 16,300 During the month of July, the company had the following activities: a. Issued 6,600 shares of common stock for $660,000 cash. b. Borrowed $178,000 cash from a...
! Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC)...
! Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,400 146,000 52,750 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $151,000 cash...
Required information The following information applies to the questions displayed below) 3 of 3 Pirates Incorporated...
Required information The following information applies to the questions displayed below) 3 of 3 Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance Septenber 1 Accounts Debit Cash $ 6.500 Accounts Receivable 2.500 Supplies 7.600 Land 11. 200 Accounts Payable Notes Payable Common Stock Retained Earnings Totals 127.800 ferences $ 7,500 3.000 9.000 8,300 $27.000 The following transactions occur in September September 1 Provide services to customers for cash $4.700. September 2Purchase land...
Required Information (The following information applies to the questions displayed below.] Pirates Incorporated had the following...
Required Information (The following information applies to the questions displayed below.] Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 4,689 Accounts Receivable 688 Supplies 5,780 Land 9, 30e Accounts Payable Notes Payable Common Stock Retained Earnings Totals $20,200 $ 5,600 1.100 7,190 6.480 $20,280 The following transactions occur in September. September 1 Provide services to customers for cash, $2,800. September 2 Purchase land with a long-term...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Required information (The following information applies to the questions displayed below Pirates Incorporated had the following...
Required information (The following information applies to the questions displayed below Pirates Incorporated had the following balances at the beginning of September. Part 2 of 3 PIRATES INCORPORATED Trial Balance counts Cash Accounts Receivable Supplies Land Accounts Payable Noten Payable Common Stock Retained Earnings points Debits Credits 5,700 1,700 6,800 10,400 eBook 6,700 2,200 8,200 7.500 Print 24.600 $25 600 Totals 24600 $24 The following transactions occur in September September 1 Provide services to customers for cash, 3,900 September 2...
Required information (The following information applies to the questions displayed below.) Fighting Irish Incorporated pays its...
Required information (The following information applies to the questions displayed below.) Fighting Irish Incorporated pays its employees $3,220 every two weeks ($230/day). The current two-week pay period ends on December 28, 2018, and employees are paid $3,220. The next two week pay period ends on January 11, 2019, and employees are paid $3,220. 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction, select "No journal entry required...
Bearings & Brakes
Corporation (B&B) was incorporated as a private company. The
company’s accounts included the following at June 30: Accounts
Payable $ 88,000 Buildings 650,000 Cash 105,000 Common Stock
320,000 Equipment 178,000 Land 519,000 Notes Payable (long-term)
8,000 Retained Earnings 1,041,000 Supplies 5,000 During the month
of July, the company had the following activities: Issued 4,400
shares of common stock for $440,000 cash. Borrowed $135,000 cash
from a local bank, payable in four years. Bought a building for
$196,000;...
NGLUNUBUOLIUR The following information applies to the questions displayed below) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 24,000 150,000 56,250 140,000 161,000 219,000 6,950 431,600 16,300 During the month of July, the company had the following activities: a. Issued 6,600 shares of common stock for $660,000 cash. b. Borrowed $178,000 cash from a...
! Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,400 146,000 52,750 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $151,000 cash...
Required information The following information applies to the questions displayed below) 3 of 3 Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance Septenber 1 Accounts Debit Cash $ 6.500 Accounts Receivable 2.500 Supplies 7.600 Land 11. 200 Accounts Payable Notes Payable Common Stock Retained Earnings Totals 127.800 ferences $ 7,500 3.000 9.000 8,300 $27.000 The following transactions occur in September September 1 Provide services to customers for cash $4.700. September 2Purchase land...
Required Information (The following information applies to the questions displayed below.] Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 4,689 Accounts Receivable 688 Supplies 5,780 Land 9, 30e Accounts Payable Notes Payable Common Stock Retained Earnings Totals $20,200 $ 5,600 1.100 7,190 6.480 $20,280 The following transactions occur in September. September 1 Provide services to customers for cash, $2,800. September 2 Purchase land with a long-term...
Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 28,600 197,000 56,000 230,000 119,000 263,000 6,750 376,850 7,200 During the month of July, the company had the following activities: a. Issued 5,400 shares of common stock for $540,000 cash. b. Borrowed $119,000 cash from...
Required information (The following information applies to the questions displayed below Pirates Incorporated had the following balances at the beginning of September. Part 2 of 3 PIRATES INCORPORATED Trial Balance counts Cash Accounts Receivable Supplies Land Accounts Payable Noten Payable Common Stock Retained Earnings points Debits Credits 5,700 1,700 6,800 10,400 eBook 6,700 2,200 8,200 7.500 Print 24.600 $25 600 Totals 24600 $24 The following transactions occur in September September 1 Provide services to customers for cash, 3,900 September 2...
Required information (The following information applies to the questions displayed below.) Fighting Irish Incorporated pays its employees $3,220 every two weeks ($230/day). The current two-week pay period ends on December 28, 2018, and employees are paid $3,220. The next two week pay period ends on January 11, 2019, and employees are paid $3,220. 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction, select "No journal entry required...
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