Accounting
when the amount paid for land is $36000 and the amount paid for expenses is 18,000, the balance in total assets after transaction(b) is
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Use the Dynamic Exhibit to answer the following questions. 1. When fees earned is $7,500 net...
Use the Dynamic Exhibit to answer the following questions. 1. When fees earned is $7,500 net income is $_____ 2. When fees earned is $12,500 cash at November 30 is $____ 3. When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is $___ 4.When the amount paid for land is $36,000 and the amount paid for expenses is $18,000, the balance in total assets after...
Use the Dynamic Exhibit to answer the following questions. 1. When the amount paid for land...
Use the Dynamic Exhibit to answer the following
questions.
1. When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is46,000 x 2. When the amount paid for land is $36,000 and the amount paid for expenses is $18,000, the balance in total assets after transaction (b) is s 18,000 x 3. when the amount paid for land is $50,000 and the amount paid for expenses...
CC2-1 Accounting for the Establishment of a Business [LO1, LO2, LO3, LO4, LO5] Nicole has decided...
CC2-1 Accounting for the Establishment of a Business [LO1, LO2, LO3, LO4, LO5] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30, 2017 a. Received $78,300 cash when issuing 7,830 new shares. b. Purchased some land by paying $1,700 cash and signing a note payable for $8,500 due in 2017. c. Hired...
Case Study : Nonprofit Hospital Accounting Equation The expanded accounting equation for a nonprofit is as...
Case Study : Nonprofit Hospital Accounting Equation The expanded accounting equation for a nonprofit is as follows: Assets = Liabilities + Net assets + Revenues – Expenses Assignment: a) Indicate all financial effects of each transaction on the expanded accounting equation See transaction 1 below- effect on equation is increase of Assets and Liabilities for $5M each - everything is in excel, below it shows transaction descriptions of 1-10, then Assets, Liabilities, Net Assets, Revenues, Expenses b) After recording the...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event - + Accounting Titles for Retained Earnings Liabilities Notes Payable 12,800 Cash Land 18,000 28,000 Stockholders' Equity Common Retained Stock Earnings 7,800 25,400 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $9,000 cash. 2. Acquired $33,000 cash from the issue of common stock 3. Received $72,000 cash for providing services to customers....
Financial accounting
A Company purchased 90% of shares of B Company on January 1, 2019. Transactions in between A and B Company during 2019 are as follows:There are sales of merchandise inventory between A and B Company. Sales figure of A Company includes the sales to B Company at the amount of $42,000 on cash. The cost of merchandise sold of this transaction were $34,000 for A. Those merchandise inventories has been sold to the third parties for $48,000 by B Company. A...
Financial accounting
A Company purchased 90% of shares of B Company on January 1, 2019. Transactions in between A and B Company during 2019 are as follows:• There are sales of merchandise inventory between A and B Company. Sales figure of A Company includes the sales to B Company at the amount of $42,000 on cash. The cost of merchandise sold of this transaction were $34,000 for A. Those merchandise inventories has been sold to the third parties for $48,000 by B...
Background Information: a) Donald Duck and Friends started their company when they issued 3,000 shares of...
Background Information: a) Donald Duck and Friends started their
company when they issued 3,000 shares of $8 par value stock on
January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
A B F G H I J C D E Donald...
Landsbury Inc. Balance Sheet December 31, 2016 Assets Liabilities and Stockholders’ Equity Cash $20,000 Accounts payable...
Landsbury Inc. Balance Sheet December 31, 2016 Assets Liabilities and Stockholders’ Equity Cash $20,000 Accounts payable $30,000 Accounts receivable 21,200 Notes payable (long-term) 41,000 Investments 32,000 Common stock 100,000 Plant assets (net) 81,000 Retained earnings 23,200 Land 40,000 $194,200 $194,200 Lansbury Inc. sold part of its debt investment portfolio for $15,000. This transaction resulted in a gain of $3,400 for the firm. The company classifies its investments as available-for-sale. 2. A tract of land was purchased for $18,000 cash. 3....
Effect of Transactions on Accounting Equation a. A vacant lot acquired for $297,000 is sold for...
Effect of Transactions on Accounting Equation a. A vacant lot acquired for $297,000 is sold for $573,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change from the dropdown and then enter a "0" in the amount box. Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity b. Assume that the seller owes $83,000 on...
Use the Dynamic Exhibit to answer the following
questions.
1. When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is46,000 x 2. When the amount paid for land is $36,000 and the amount paid for expenses is $18,000, the balance in total assets after transaction (b) is s 18,000 x 3. when the amount paid for land is $50,000 and the amount paid for expenses...
CC2-1 Accounting for the Establishment of a Business [LO1, LO2, LO3, LO4, LO5] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30, 2017 a. Received $78,300 cash when issuing 7,830 new shares. b. Purchased some land by paying $1,700 cash and signing a note payable for $8,500 due in 2017. c. Hired...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event - + Accounting Titles for Retained Earnings Liabilities Notes Payable 12,800 Cash Land 18,000 28,000 Stockholders' Equity Common Retained Stock Earnings 7,800 25,400 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $9,000 cash. 2. Acquired $33,000 cash from the issue of common stock 3. Received $72,000 cash for providing services to customers....
Background Information: a) Donald Duck and Friends started their
company when they issued 3,000 shares of $8 par value stock on
January 1,2018
b) The stock issued at a market price of $13 per share
c) During the year, Donald Duck and Friends had revenue of
$43,000
d) Donald Duck and Friends paid cash for $18,000 in expenses
e) Donald Duck and Friends paid a cash Dividend of $25,000
A B F G H I J C D E Donald...
Effect of Transactions on Accounting Equation a. A vacant lot acquired for $297,000 is sold for $573,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change from the dropdown and then enter a "0" in the amount box. Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity b. Assume that the seller owes $83,000 on...
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