Homework Answers
|
OLIVE ENTERPRISES Accounting Equation |
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| Event number | Assets | = | Liabilities | + | Stockholders' Equity | ||
| Common stock | + | Retained earnings | |||||
| 1. | I | NA | I | NA | |||
| 2. | D | D | NA | NA | |||
| 3. | I/D | NA | NA | NA | |||
| 4. | I | NA | NA | I | |||
| 5. | D | NA | NA | D | |||
| 6. | D | NA | NA | D | |||
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Olive Enterprises experienced the following events during 2016: 1. Acquired cash from the issue of common...
1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal...
1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash 5. Paid utilities expenses with cash 6. Paid a cash dividend to the stockholders Required Indicate which of the above events occur in the equation by selecting the letter "" for increase, the letter "D" for decrease, "/D" for increase and...
Chapter 1 LO 2, 3 Exercise 1-10A/ Effect of events on the accounting equation Hansen Enterprises...
Chapter 1 LO 2, 3 Exercise 1-10A/ Effect of events on the accounting equation Hansen Enterprises experienced the following events during 2013: r. Acquired cash from the issue of common stock. 2. Provided services to clients for cash. 3. Paid utilities expenses with cash. 4. Paid cash to reduce the principal on a bank note. 5. Sold land for cash at an amount equal to its cost. 6. Paid a cash dividend to the stockholders. Required Explain how each of...
Dakota Company experienced the following events during 2018: Acquired $15,000 cash from the issue of common...
Dakota Company experienced the following events during 2018:
Acquired $15,000 cash from the issue of common stock.
Paid $15,000 cash to purchase land.
Borrowed $5,000 cash.
Provided services for $55,000 cash.
Paid $2,000 cash for utilities expense.
Paid $45,000 cash for other operating expenses.
Paid a $1,000 cash dividend to the stockholders.
Determined that the market value of the land purchased in Event
2 is now $16,000.
Required
a. The January 1, 2018, general ledger account
balances are shown in...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
Exercise 1.19 Dakota company experienced the following events during 2018: 1 Acquired 30,000 cash from issue...
Exercise 1.19
Dakota company experienced the following events during
2018:
1 Acquired 30,000 cash from issue of common stock
2.Paid 12,000 cash to purchase land
3.Borrowed 10,000 cash.
4.Provided services for 20,000 cash
5.Paid 1,000 cash for utilities expenses
6.Paid 15,000 cash for other operating expenses
7.Paid 2000 cash dividend to stock holders.
8.Determined that the market value of land purchased at Event
2 is now 12,700
xurise 1-1 Required a. The January 1,2018, general ledger account balances are shown...
El-19 Dakola Company experienced the following events during 2018 1. Acquired $30,000 cash from the issue...
El-19 Dakola Company experienced the following events during 2018 1. Acquired $30,000 cash from the issue of common stock. 2. Paid $12.000 cash to purchase land. 3. Borrowed $10.000 cash. 4. Provided services for $20,000 cash. 5. Paid $1.000 cash for utilities expense. 6. Paid $15.000 for other operating expenses. 7. Paid a $2.000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,700. (a) The January 1, 2018....
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Required a. The January 1,...
Exercise 1.19 Dakota company experienced the following events during 2018: 1 Acquired 30,000 cash from issue...
Exercise 1.19
Dakota company experienced the following events during
2018:
1 Acquired 30,000 cash from issue of common stock
2.Paid 12,000 cash to purchase land
3.Borrowed 10,000 cash.
4.Provided services for 20,000 cash
5.Paid 1,000 cash for utilities expenses
6.Paid 15,000 cash for other operating expenses
7.Paid 2000 cash dividend to stock holders.
8.Determined that the market value of land purchased at Event
2 is now 12,700
Exercise 1.23
Problem 1.33 *Mikes company experienced the following
transactions for 2018, its...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Remuired innts in b-4. b-3....
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash 5. Paid utilities expenses with cash 6. Paid a cash dividend to the stockholders Required Indicate which of the above events occur in the equation by selecting the letter "" for increase, the letter "D" for decrease, "/D" for increase and...
Chapter 1 LO 2, 3 Exercise 1-10A/ Effect of events on the accounting equation Hansen Enterprises experienced the following events during 2013: r. Acquired cash from the issue of common stock. 2. Provided services to clients for cash. 3. Paid utilities expenses with cash. 4. Paid cash to reduce the principal on a bank note. 5. Sold land for cash at an amount equal to its cost. 6. Paid a cash dividend to the stockholders. Required Explain how each of...
Dakota Company experienced the following events during 2018:
Acquired $15,000 cash from the issue of common stock.
Paid $15,000 cash to purchase land.
Borrowed $5,000 cash.
Provided services for $55,000 cash.
Paid $2,000 cash for utilities expense.
Paid $45,000 cash for other operating expenses.
Paid a $1,000 cash dividend to the stockholders.
Determined that the market value of the land purchased in Event
2 is now $16,000.
Required
a. The January 1, 2018, general ledger account
balances are shown in...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
Exercise 1.19
Dakota company experienced the following events during
2018:
1 Acquired 30,000 cash from issue of common stock
2.Paid 12,000 cash to purchase land
3.Borrowed 10,000 cash.
4.Provided services for 20,000 cash
5.Paid 1,000 cash for utilities expenses
6.Paid 15,000 cash for other operating expenses
7.Paid 2000 cash dividend to stock holders.
8.Determined that the market value of land purchased at Event
2 is now 12,700
xurise 1-1 Required a. The January 1,2018, general ledger account balances are shown...
El-19 Dakola Company experienced the following events during 2018 1. Acquired $30,000 cash from the issue of common stock. 2. Paid $12.000 cash to purchase land. 3. Borrowed $10.000 cash. 4. Provided services for $20,000 cash. 5. Paid $1.000 cash for utilities expense. 6. Paid $15.000 for other operating expenses. 7. Paid a $2.000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,700. (a) The January 1, 2018....
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Required a. The January 1,...
Exercise 1.19
Dakota company experienced the following events during
2018:
1 Acquired 30,000 cash from issue of common stock
2.Paid 12,000 cash to purchase land
3.Borrowed 10,000 cash.
4.Provided services for 20,000 cash
5.Paid 1,000 cash for utilities expenses
6.Paid 15,000 cash for other operating expenses
7.Paid 2000 cash dividend to stock holders.
8.Determined that the market value of land purchased at Event
2 is now 12,700
Exercise 1.23
Problem 1.33 *Mikes company experienced the following
transactions for 2018, its...
Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Remuired innts in b-4. b-3....
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
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