Homework Answers
Accounting equation
| Assets | = | Liabilities | + | Stockholder's equity | |||
| Cash | = | Notes payable | + | Common Stock | + | Retained earnings | |
| 1. | 150000 | 150000 | |||||
| 2 | -30000 | -30000 | |||||
| 3 | 25000 | 25000 | |||||
| 4 | -3500 | -3500 | |||||
| 5 | -1200 | -1200 | |||||
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Recording Transactions with the Accounting Equation During the year, the Flight Company experienced the following accounting...
Recording Transactions with the Accounting Equation During the year, the Decker Company experienced the following accounting...
Recording Transactions with the Accounting Equation During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan Using the accounting equation, record each of the transactions in columnar format using th Use negative signs with...
No handwritings please company P from last month. What is the ending debit or creul i...
No handwritings please
company P from last month. What is the ending debit or creul i Recording Transactions with the Accounting Equation During the year, the Decker Company expe L0 rienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan...
Pusting Transactions to T-accounts During the year, the Decker Company experienced the following accounting transa 1....
Pusting Transactions to T-accounts During the year, the Decker Company experienced the following accounting transa 1. Issued common stock in the amount of $220,000 2. Paid a $66,000 cash dividend 3. Borrowed $55,000 from a bank 4. Made a principal payment of $5,500 on an outstanding bank loan 5. Made an interest payment of $2,640 on an outstanding bank loan Prepare journal entries and post your transaction analysis to the appropriate T-accou HINT: When posting the journal entries to the...
2.5. Determine the Cash Balance The beginning-of-the-period cash balance for the Travis Company L04 was a...
2.5. Determine the Cash Balance The beginning-of-the-period cash balance for the Travis Company L04 was a $12,000 debit. Cash sales for the month were $6,000 and sales on account were $8,000. The company paid $2,500 cash for current-period purchases and also paid $3,000 cash for amounts due from last month. What is the ending debit or credit balance in the Cash account? Recording Transactions with the Accounting Equation During the year, the Decker Company expe rienced the following accounting transactions...
b. c. d. e. Borrowed money from a bank Provided services on account Purchased inventory on...
b. c. d. e. Borrowed money from a bank Provided services on account Purchased inventory on account Collected cash from customers that owed a balance due SE2-3. Debit and Credit Effects Indicate the account that will be credited for each of the following LO transactions: a. Issued common stock for cash b. Borrowed money from a bank c. Provided services on account d. Purchased inventory on account e. Collected cash from customers that owed a balance due SE2-4. Determine a...
Please Help! 9 Centrall ink Central Michig Annauncements ACC 201 Top Hat Chapter 2 Homework ×...
Please Help!
9 Centrall ink Central Michig Annauncements ACC 201 Top Hat Chapter 2 Homework × Calou lating the Cash Balana O https/mybusin pt php?attempt-19754568pago-2 Menu Cody Brown- QUESTION 3 Not complete Marked out ot 7.00 pr ACC 201 Concepts of Financial Accounting question Recording Transactions with the Accounting Equation During the year, the Decker Company experienced the following accounting trarisactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borowed $25,000 from...
Ortho Company experienced the following events during its first- and second-year operations: Year 1 Transactions: 1....
Ortho Company experienced the following events during its first- and second-year operations: Year 1 Transactions: 1. Acquired $68,000 cash from the issue of common stock 2. Borrowed $36,000 cash from the National Credit Union. 3. Earned $59,000 of cash revenue, 4. Incurred $43,000 of cash expenses. 5. Paid a $7,000 cash dividend 6. Pald $37,000 cash to purchase land. Year 2 Transactions: 1. Acquired $50,000 cash from the issue of common stock. 2. Borrowed $20,000 cash from the National Credit...
Problem 1.33 *Mikes company experienced the following transactions for 2018, its first year of operations and...
Problem 1.33 *Mikes company experienced the following
transactions for 2018, its first year of operations and 2019.Assume
that all transactions involve the receipt or payment of cash and
Problem 1.34
Chpter1 Probiem 1-33 Transactions for 2018 CHECK FIGURES a. Net Income 2018: $13,000 b. Retained Earnings 2019 1. Acquired $20,.000 by issuing common stock. 2. Received $35,000 cash for providing services to customers 3. Borrowed $25,000 cash from creditors. 4. Paid expenses amounting to $22,000. 5. Purchased land for...
You are operating your accounting firm. Your first client had the following transactions in April 20x7:...
You are operating your accounting firm. Your first client had
the following transactions in April 20x7:
Borrowed $10,000 from the bank.
Purchased $2,250 of computer equipment for cash.
Paid $750 cash for this month’s rent.
Purchased $1,500 of office supplies on credit. It is expected
that these supplies will last for 3 months.
Billed $500 to customers for services rendered during
April.
Paid cash for the $1,500 balance owed to the vendor from
Transaction 4.
Collected $450 cash of the...
Maben Company was started on January 1, Year 1, and experienced the following events during its...
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $29,000 cash from the issue of common stock. Borrowed $41,000 cash from National Bank. Earned cash revenues of $57,000 for performing services. Paid cash expenses of $49,500. Paid a $1,900 cash dividend to the stockholders. Acquired an additional $29,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid...
Recording Transactions with the Accounting Equation During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan Using the accounting equation, record each of the transactions in columnar format using th Use negative signs with...
No handwritings please
company P from last month. What is the ending debit or creul i Recording Transactions with the Accounting Equation During the year, the Decker Company expe L0 rienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan...
Pusting Transactions to T-accounts During the year, the Decker Company experienced the following accounting transa 1. Issued common stock in the amount of $220,000 2. Paid a $66,000 cash dividend 3. Borrowed $55,000 from a bank 4. Made a principal payment of $5,500 on an outstanding bank loan 5. Made an interest payment of $2,640 on an outstanding bank loan Prepare journal entries and post your transaction analysis to the appropriate T-accou HINT: When posting the journal entries to the...
2.5. Determine the Cash Balance The beginning-of-the-period cash balance for the Travis Company L04 was a $12,000 debit. Cash sales for the month were $6,000 and sales on account were $8,000. The company paid $2,500 cash for current-period purchases and also paid $3,000 cash for amounts due from last month. What is the ending debit or credit balance in the Cash account? Recording Transactions with the Accounting Equation During the year, the Decker Company expe rienced the following accounting transactions...
b. c. d. e. Borrowed money from a bank Provided services on account Purchased inventory on account Collected cash from customers that owed a balance due SE2-3. Debit and Credit Effects Indicate the account that will be credited for each of the following LO transactions: a. Issued common stock for cash b. Borrowed money from a bank c. Provided services on account d. Purchased inventory on account e. Collected cash from customers that owed a balance due SE2-4. Determine a...
Please Help!
9 Centrall ink Central Michig Annauncements ACC 201 Top Hat Chapter 2 Homework × Calou lating the Cash Balana O https/mybusin pt php?attempt-19754568pago-2 Menu Cody Brown- QUESTION 3 Not complete Marked out ot 7.00 pr ACC 201 Concepts of Financial Accounting question Recording Transactions with the Accounting Equation During the year, the Decker Company experienced the following accounting trarisactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borowed $25,000 from...
Ortho Company experienced the following events during its first- and second-year operations: Year 1 Transactions: 1. Acquired $68,000 cash from the issue of common stock 2. Borrowed $36,000 cash from the National Credit Union. 3. Earned $59,000 of cash revenue, 4. Incurred $43,000 of cash expenses. 5. Paid a $7,000 cash dividend 6. Pald $37,000 cash to purchase land. Year 2 Transactions: 1. Acquired $50,000 cash from the issue of common stock. 2. Borrowed $20,000 cash from the National Credit...
Problem 1.33 *Mikes company experienced the following
transactions for 2018, its first year of operations and 2019.Assume
that all transactions involve the receipt or payment of cash and
Problem 1.34
Chpter1 Probiem 1-33 Transactions for 2018 CHECK FIGURES a. Net Income 2018: $13,000 b. Retained Earnings 2019 1. Acquired $20,.000 by issuing common stock. 2. Received $35,000 cash for providing services to customers 3. Borrowed $25,000 cash from creditors. 4. Paid expenses amounting to $22,000. 5. Purchased land for...
You are operating your accounting firm. Your first client had
the following transactions in April 20x7:
Borrowed $10,000 from the bank.
Purchased $2,250 of computer equipment for cash.
Paid $750 cash for this month’s rent.
Purchased $1,500 of office supplies on credit. It is expected
that these supplies will last for 3 months.
Billed $500 to customers for services rendered during
April.
Paid cash for the $1,500 balance owed to the vendor from
Transaction 4.
Collected $450 cash of the...
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