Homework Answers
| Item | Type of account A,L,SE,D,R,E, | Type of activity O,I,F |
| Borrowed From Bank | 1. L | 2. F |
| Provided Services to a Customers | 3. R | 4. O |
| Used Cleaning Supplies to Clean Store | 5. E | 6. O |
| Issued Stock to Owners | 7. SE | 8. F |
| Purchased Land | 9. A | 10. I |
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I need help with 1 through 10
Use the following information to answer questions 1 -...
WE Chapter Home Submit your answers in CANVAS before When inputting your answers in CANVAS do...
WE Chapter Home Submit your answers in CANVAS before When inputting your answers in CANVAS do not include $ signs or commas in your answers. DO NOT include words in your answer unless specifically asked. For each item, determine the type of account Anet t , Stockhorst , Dividends, Revenue or Expense) and the type of activity Operating investing or Financingl. When answering the question, Input ONLY the first letter, for examples of the answer was Liability input as the...
Chapter 1 Homework Submit your answers in CANVAS before it is due When Inputting your answers...
Chapter 1 Homework Submit your answers in CANVAS before it is due When Inputting your answers in CANVAS do not include S signs or commas in your answers. DO NOT include words in your answer unless specifically asked. Use the following information to answer questions 1-10 For each item, determine the type of account (Asset, Liability, Stockholder's Equity, Dividends, Revenue or Expense) and the type of activity Operating Investing or Financing When answering the question, Input ONLY the first letter,...
Use the following information to answer the netto questions On December 31, 2011, Sal Company made...
Use the following information to answer the netto questions On December 31, 2011, Sal Company made an adjusting entry to record S2.000 of accrued interest on a note payable due in 2012. 35. The journal entry would include a debit to which type of account? A Revenue Expense Asset Liability Owners' Equity The journal entry would include a credit to which type of account? Revenue Expense Asset Liability Owners' Equity 36.
Use the following to answer questions 12 – 15 Transaction Cash involved? (Yes or No) Type...
Use the following to answer questions 12 – 15 Transaction Cash involved? (Yes or No) Type of CASH FLOW Operating, Investing, Financing, or None Use the first letter (O, I, F, N) 12. Issue common stock Purchased building and land 13. 14. Provide services to customers on account 15. Paid utilities used in the manufacturing plant
The following information can be obtained by examining a company's balance sheet and income statement information:...
The following information can be obtained by examining a company's balance sheet and income statement information: a. Increases in current asset account balances, other than cash. b. Decreases in current asset account balances, other than cash. c. Cash outflows to purchase long-term assets. d. Decreases in current liability account balances. e. Cash outflows to repay long-term debt. f. Gains recognized on the sale of long-term assets. g. Noncash expenses (e.g., depreciation). h. Cash outflows to purchase treasury stock. i. Increases...
Use the following to answer questions 6 - 8 Analyze each transaction. Under each category in...
Use the following to answer questions 6 - 8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to increase, Assets increase, and no effect on Liabilities). 6. Borrowed money from the bank. 7. Purchased land by signing a note payable. 8. Used supplies for...
I need help with 1-5 Use the following to answer questions 1 - 5 Determine if...
I need help with 1-5
Use the following to answer questions 1 - 5 Determine if the normal balance is a Debit (D) or a Credit (C). Input only the first letter of the answer (D or C). Account Normal Balance D or C Accounts receivable Dividends Salaries payable Utilities Service revenue
Use the following to answer questions 6 – 10 On November 1st, FLY Tech, an Airline...
Use the following to answer questions 6 – 10 On November 1st, FLY Tech, an Airline maintenance company, borrows $1,000,000cash from Bank of America to expand operations. FLY signs a 1year,3%promissory note. FLY’s year-end is December 31. 6. How was the loan classified on the company’s December 31, year 1 balance sheet? A. Current liability B. Long term liability C. Note disclosure only D. Stockholders’ Equity 7. How was the loan classified on the company’s December 31, year 1 statement of cash flow? A. Operating activity B. Investing activity...
Required information [The following information applies to the questions displayed below.] The following selected transactions apply...
Required information
[The following information applies to the questions
displayed below.]
The following selected transactions apply to Topeca Supply for
November and December 2018. November was the first month of
operations. Sales tax is collected at the time of sale but is not
paid to the state sales tax agency until the following month.
Cash sales for November 2018 were $165,000 plus sales tax of 7
percent.
Topeca Supply paid the November sales tax to the state agency
on December...
Required information [The following information applies to the questions displayed below. Lisa Frees and Amelia Ellinger...
Required information [The following information applies to the questions displayed below. Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $85,000 cash from each of the two shareholders to form the corporation, in addition to $2,500 in accounts receivable, $6,300...
WE Chapter Home Submit your answers in CANVAS before When inputting your answers in CANVAS do not include $ signs or commas in your answers. DO NOT include words in your answer unless specifically asked. For each item, determine the type of account Anet t , Stockhorst , Dividends, Revenue or Expense) and the type of activity Operating investing or Financingl. When answering the question, Input ONLY the first letter, for examples of the answer was Liability input as the...
Chapter 1 Homework Submit your answers in CANVAS before it is due When Inputting your answers in CANVAS do not include S signs or commas in your answers. DO NOT include words in your answer unless specifically asked. Use the following information to answer questions 1-10 For each item, determine the type of account (Asset, Liability, Stockholder's Equity, Dividends, Revenue or Expense) and the type of activity Operating Investing or Financing When answering the question, Input ONLY the first letter,...
Use the following information to answer the netto questions On December 31, 2011, Sal Company made an adjusting entry to record S2.000 of accrued interest on a note payable due in 2012. 35. The journal entry would include a debit to which type of account? A Revenue Expense Asset Liability Owners' Equity The journal entry would include a credit to which type of account? Revenue Expense Asset Liability Owners' Equity 36.
Use the following to answer questions 12 – 15 Transaction Cash involved? (Yes or No) Type of CASH FLOW Operating, Investing, Financing, or None Use the first letter (O, I, F, N) 12. Issue common stock Purchased building and land 13. 14. Provide services to customers on account 15. Paid utilities used in the manufacturing plant
The following information can be obtained by examining a company's balance sheet and income statement information: a. Increases in current asset account balances, other than cash. b. Decreases in current asset account balances, other than cash. c. Cash outflows to purchase long-term assets. d. Decreases in current liability account balances. e. Cash outflows to repay long-term debt. f. Gains recognized on the sale of long-term assets. g. Noncash expenses (e.g., depreciation). h. Cash outflows to purchase treasury stock. i. Increases...
Use the following to answer questions 6 - 8 Analyze each transaction. Under each category in the accounting equation, indicate whether the transaction: A. increases, B. decreases, or C. has no effect. The item (a) is provided as an example. (a) Provided services to a customer on account. (Revenue increases causing Stockholders' Equity to increase, Assets increase, and no effect on Liabilities). 6. Borrowed money from the bank. 7. Purchased land by signing a note payable. 8. Used supplies for...
I need help with 1-5
Use the following to answer questions 1 - 5 Determine if the normal balance is a Debit (D) or a Credit (C). Input only the first letter of the answer (D or C). Account Normal Balance D or C Accounts receivable Dividends Salaries payable Utilities Service revenue
Required information
[The following information applies to the questions
displayed below.]
The following selected transactions apply to Topeca Supply for
November and December 2018. November was the first month of
operations. Sales tax is collected at the time of sale but is not
paid to the state sales tax agency until the following month.
Cash sales for November 2018 were $165,000 plus sales tax of 7
percent.
Topeca Supply paid the November sales tax to the state agency
on December...
Required information [The following information applies to the questions displayed below. Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $85,000 cash from each of the two shareholders to form the corporation, in addition to $2,500 in accounts receivable, $6,300...
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