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The following events apply to Lewis and Harper, a public accounting firm, for the...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $102,000 of services for clients on account. 2. Performed $56,000 of services for cash. 3. Incurred $60,000 of other operating expenses on account. 4. Paid $23,000 cash to an employee for salary. 5. Collected $70,000 cash from accounts receivable. 6. Paid $20,000 cash on accounts payable. 7. Paid an $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5.200...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...
The following events apply to Lewis and Harper, a public
accounting firm, for the Year 1 accounting period:
Performed $74,500 of services for clients on account.
Performed $45,000 of services for cash.
Incurred $38,000 of other operating expenses on account.
Paid $17,500 cash to an employee for salary.
Collected $60,000 cash from accounts receivable.
Paid $16,000 cash on accounts payable.
Paid an $6,000 cash dividend to the stockholders.
Accrued salaries were $3,000 at the end of Year 1.
Required
a....
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...
The following events apply to Lewis and Harper, a public
accounting firm, for the Year 1 accounting period:
Performed $82,000 of services for clients on account.
Performed $48,000 of services for cash.
Incurred $44,000 of other operating expenses on account.
Paid $19,000 cash to an employee for salary.
Collected $62,000 cash from accounts receivable.
Paid $36,000 cash on accounts payable.
Paid a $6,000 cash dividend to the stockholders.
Accrued salaries were $3,600 at the end of Year 1.
Required
a....
on financial statements The following events apply to Lewis and Harper, a public accounting firm, for...
on financial statements The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $70,000 of services for clients on account. 2. Performed $40,000 of services for cash. 3. Incurred $36,000 of other operating expenses on account. Page 103 4. Paid $10,000 cash to an employee for salary. 5. Collected $47,000 cash from accounts receivable. 6. Paid $16,000 cash on accounts payable. 7. Paid an $8,000 cash dividend to the stockholders....
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting perlod: 1. Performed $97,000 of services for clients on account. 2. Performed $54,000 of services for cash 3. Incurred $56,000 of other operating expenses on account. 4. Paid $22,000 cash to an employee for salary. 5. Collected $68,000 cash from accounts recelvable. 6. Pald $21,000 cash on accounts payable 7. Paid a $7,000 cash dividend to the stockholders 8. Accrued salaries were $4,800...
please answer everything for a upvote thank you The following events apply to Lewis and Harper,...
please answer everything for a upvote thank you
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $69,500 of services for clients on account. 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of other operating expenses on account. 4. Paid $16,500 cash to an employee for salary. 5. Collected $50,000 cash from accounts receivable. 6. Paid $18,000 cash on accounts payable. 7. Paid a $5,000 cash dividend...
CH 2 - HW Part 1 Seved 1 The following events apply to Lewis and Harper,...
CH 2 - HW Part 1 Seved 1 The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting 10 points 1. Performed $89,500 of services for clients on account 2. Performed $51,000 of services for cash. 3. Incurred $50,000 of other operating expenses on account. 4. Paid $20,500 cash to an employee for salary. 5. Collected $65,000 cash from accounts receivable. 6. Paid $19,000 cash on accounts payable. 7. Paid a $8,000 cash...
Exercise 2-9A Effect of accounts receivable and accounts payable transactions on financial statements LO 2-1, 2-2,...
Exercise 2-9A Effect of accounts receivable and accounts payable
transactions on financial statements LO 2-1, 2-2, 2-3, 2-4 The
following events apply to Lewis and Harper, a public accounting
firm, for the Year 1 accounting period: Performed $89,500 of
services for clients on account. Performed $51,000 of services for
cash. Incurred $50,000 of other operating expenses on account. Paid
$20,500 cash to an employee for salary. Collected $65,000 cash from
accounts receivable. Paid $19,000 cash on accounts payable. Paid an...
Event No. LEWIS AND HARPER Statements Model For Accounting Year 2018 Stockholders' Liabilities Income Statement Equity...
Event No. LEWIS AND HARPER Statements Model For Accounting Year 2018 Stockholders' Liabilities Income Statement Equity Accounts Salaries Retained Payable Payable Revenue - Expense = Net Income Earnings 70,000 70,000 - 70,000 40,000 36,000 (36,000) (10,000) Statement of Cash Flows Assets Cash Accounts + Receivable 70,000 40,000+ 1. 3. (10,000) 47,000+ (15.000) (8,000) + (8.00) (2.000) 54,000 Totals 53,000 + 23,000 20,000+ 2,000 + 70,000 0 70,0000 Part 2 How is net income connected to retained earnings and how does...
1. Performed $69.500 of services for clients on account 2. Performed $43,000 of services for cash....
1. Performed $69.500 of services for clients on account 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of other operating expenses on account 4. Paid $16,500 cash to an employee for salary 5. Collected $50.000 cash from accounts receivable. 6. Paid $18,000 cash on accounts payable. 7. Paid a $5,000 cash dividend to the stockholders. 8. Accrued salaries were $2,600 at the end of Year 1. wipped Box Him Terences Required a. Show the effects on the financial...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $102,000 of services for clients on account. 2. Performed $56,000 of services for cash. 3. Incurred $60,000 of other operating expenses on account. 4. Paid $23,000 cash to an employee for salary. 5. Collected $70,000 cash from accounts receivable. 6. Paid $20,000 cash on accounts payable. 7. Paid an $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5.200...
The following events apply to Lewis and Harper, a public
accounting firm, for the Year 1 accounting period:
Performed $74,500 of services for clients on account.
Performed $45,000 of services for cash.
Incurred $38,000 of other operating expenses on account.
Paid $17,500 cash to an employee for salary.
Collected $60,000 cash from accounts receivable.
Paid $16,000 cash on accounts payable.
Paid an $6,000 cash dividend to the stockholders.
Accrued salaries were $3,000 at the end of Year 1.
Required
a....
The following events apply to Lewis and Harper, a public
accounting firm, for the Year 1 accounting period:
Performed $82,000 of services for clients on account.
Performed $48,000 of services for cash.
Incurred $44,000 of other operating expenses on account.
Paid $19,000 cash to an employee for salary.
Collected $62,000 cash from accounts receivable.
Paid $36,000 cash on accounts payable.
Paid a $6,000 cash dividend to the stockholders.
Accrued salaries were $3,600 at the end of Year 1.
Required
a....
on financial statements The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $70,000 of services for clients on account. 2. Performed $40,000 of services for cash. 3. Incurred $36,000 of other operating expenses on account. Page 103 4. Paid $10,000 cash to an employee for salary. 5. Collected $47,000 cash from accounts receivable. 6. Paid $16,000 cash on accounts payable. 7. Paid an $8,000 cash dividend to the stockholders....
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting perlod: 1. Performed $97,000 of services for clients on account. 2. Performed $54,000 of services for cash 3. Incurred $56,000 of other operating expenses on account. 4. Paid $22,000 cash to an employee for salary. 5. Collected $68,000 cash from accounts recelvable. 6. Pald $21,000 cash on accounts payable 7. Paid a $7,000 cash dividend to the stockholders 8. Accrued salaries were $4,800...
please answer everything for a upvote thank you
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $69,500 of services for clients on account. 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of other operating expenses on account. 4. Paid $16,500 cash to an employee for salary. 5. Collected $50,000 cash from accounts receivable. 6. Paid $18,000 cash on accounts payable. 7. Paid a $5,000 cash dividend...
CH 2 - HW Part 1 Seved 1 The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting 10 points 1. Performed $89,500 of services for clients on account 2. Performed $51,000 of services for cash. 3. Incurred $50,000 of other operating expenses on account. 4. Paid $20,500 cash to an employee for salary. 5. Collected $65,000 cash from accounts receivable. 6. Paid $19,000 cash on accounts payable. 7. Paid a $8,000 cash...
Exercise 2-9A Effect of accounts receivable and accounts payable
transactions on financial statements LO 2-1, 2-2, 2-3, 2-4 The
following events apply to Lewis and Harper, a public accounting
firm, for the Year 1 accounting period: Performed $89,500 of
services for clients on account. Performed $51,000 of services for
cash. Incurred $50,000 of other operating expenses on account. Paid
$20,500 cash to an employee for salary. Collected $65,000 cash from
accounts receivable. Paid $19,000 cash on accounts payable. Paid an...
Event No. LEWIS AND HARPER Statements Model For Accounting Year 2018 Stockholders' Liabilities Income Statement Equity Accounts Salaries Retained Payable Payable Revenue - Expense = Net Income Earnings 70,000 70,000 - 70,000 40,000 36,000 (36,000) (10,000) Statement of Cash Flows Assets Cash Accounts + Receivable 70,000 40,000+ 1. 3. (10,000) 47,000+ (15.000) (8,000) + (8.00) (2.000) 54,000 Totals 53,000 + 23,000 20,000+ 2,000 + 70,000 0 70,0000 Part 2 How is net income connected to retained earnings and how does...
1. Performed $69.500 of services for clients on account 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of other operating expenses on account 4. Paid $16,500 cash to an employee for salary 5. Collected $50.000 cash from accounts receivable. 6. Paid $18,000 cash on accounts payable. 7. Paid a $5,000 cash dividend to the stockholders. 8. Accrued salaries were $2,600 at the end of Year 1. wipped Box Him Terences Required a. Show the effects on the financial...
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