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Answer- During October, the company issued additional shares of stock for proceeds of $1940. This transaction would be recorded in the tabular analysis are as follows = Increase cash by $1940 and increase Common Stock by $1940.
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Vaughn Company's tabular analysis at the beginning of October consisted of the following balances: Assets =...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 29,200 Accounts receivable 16,400 Accounts payable 12,200 Common stock 20,200 Retained earnings 13,200 The following events apply to Oak Consulting for Year 1: Provided $74,500 of services on account. Incurred $3,000 of operating expenses on account. Collected $50,000 of accounts receivable. Paid $36,000 cash for salaries expense. Paid $13,680 cash as a partial payment on accounts payable. Paid a $8,600...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,200 Accounts receivable 16,600 Accounts payable 10,500 Common stock 27,400 Retained earnings 10,900 The following events apply to Oak Consulting for Year 1: Provided $67,000 of services on account. Incurred $2,900 of operating expenses on account. Collected $48,400 of accounts receivable. Paid $37,500 cash for salaries expense. Paid $12,060 cash as a partial payment on accounts payable. Paid a $10,000...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 2, Oak Consulting had the following
normal balances in its accounts:
Account
Balance
Cash
$
42,000
Accounts
receivable
25,000
Accounts
payable
8,400
Common
stock
24,000
Retained
earnings
34,600
The following events apply to Oak Consulting for Year 2:
Provided $185,000 of services on account.
Incurred $45,800 of operating expenses on account.
Collected $140,000 of accounts receivable.
Paid $120,000 cash for salaries expense.
Paid $31,400 cash as a partial payment on accounts
payable.
Paid a $10,000...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 29,900 21,400 11,400 26,300 13,600 The following events apply to Oak Consulting for Year 2: 1. Provided $74,700 of services on account. 2. Incurred $3,500 of operating expenses on account. 3. Collected $47,700 of accounts receivable. 4. Paid $39,000 cash for salaries expense. 5. Paid $13,410 cash as a partial payment on...
Required information [The following information applies to the questions displayed below.] At the beginning of Year...
Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 26,900 18,600 10,800 23,400 11,300 The following events apply to Oak Consulting for Year 2: 1. Provided $68,000 of services on account. 2. Incurred $3,100 of operating expenses on account. 3. Collected $49,500 of accounts receivable. 4. Paid $37,400 cash for...
7 [The following information applies to the questions displayed below] At the beginning of Year 2...
7 [The following information applies to the questions displayed below] At the beginning of Year 2 Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 29,eee 19,300 14,eee 28, 2ee 14,100 Part 1 of 3 1.17 points The following events apply to Oak Consulting for Year 2: Skipped 1. Provided $67.700 of services on account. 2 Incurred $3,300 of operating expenses on account. 3. Collected $48.400 of...
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:...
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $16.500 7,300 3,300 11,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 3,600 5,600 21,500 7.900 $38.600 $38.600 The following 's a summary of the transactions for the year 1. March 12 Provide services to customers, $53.000, of which $20,300 is on account. 2. May 2 Collect on accounts receivable, $17,300. 3. June 30...
Required information (The following information applies to the questions displayed below.] Following are account balances (in...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par...
The general ledger of Jackrabbit Rentals at January 1, 2018, includes the following account balances: Debits...
The general ledger of Jackrabbit Rentals at January 1, 2018, includes the following account balances: Debits $ 48,500 32,700 117,800 Credits Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable Common Stock Retained Earnings $ 16,000 37,000 107,000 39,000 Totals $199,000 $199,000 The following is a summary of the transactions for the year: a. January 12 Provide services to customers on account, $69,400 b. February 25 Provide services to customers for cash, $78,800 C. March 19 Collect on accounts receivable,...
00 The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:...
00 The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Part 7 of 8 Debits $ 4,100 9,100 3,100 28,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4.400 5,400 points 19,000 9,100 $44,300 eBook $44,300 References The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, 516,000, and on account,...
At the beginning of Year 2, Oak Consulting had the following
normal balances in its accounts:
Account
Balance
Cash
$
42,000
Accounts
receivable
25,000
Accounts
payable
8,400
Common
stock
24,000
Retained
earnings
34,600
The following events apply to Oak Consulting for Year 2:
Provided $185,000 of services on account.
Incurred $45,800 of operating expenses on account.
Collected $140,000 of accounts receivable.
Paid $120,000 cash for salaries expense.
Paid $31,400 cash as a partial payment on accounts
payable.
Paid a $10,000...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 29,900 21,400 11,400 26,300 13,600 The following events apply to Oak Consulting for Year 2: 1. Provided $74,700 of services on account. 2. Incurred $3,500 of operating expenses on account. 3. Collected $47,700 of accounts receivable. 4. Paid $39,000 cash for salaries expense. 5. Paid $13,410 cash as a partial payment on...
Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 26,900 18,600 10,800 23,400 11,300 The following events apply to Oak Consulting for Year 2: 1. Provided $68,000 of services on account. 2. Incurred $3,100 of operating expenses on account. 3. Collected $49,500 of accounts receivable. 4. Paid $37,400 cash for...
7 [The following information applies to the questions displayed below] At the beginning of Year 2 Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 29,eee 19,300 14,eee 28, 2ee 14,100 Part 1 of 3 1.17 points The following events apply to Oak Consulting for Year 2: Skipped 1. Provided $67.700 of services on account. 2 Incurred $3,300 of operating expenses on account. 3. Collected $48.400 of...
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $16.500 7,300 3,300 11,500 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 3,600 5,600 21,500 7.900 $38.600 $38.600 The following 's a summary of the transactions for the year 1. March 12 Provide services to customers, $53.000, of which $20,300 is on account. 2. May 2 Collect on accounts receivable, $17,300. 3. June 30...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par...
The general ledger of Jackrabbit Rentals at January 1, 2018, includes the following account balances: Debits $ 48,500 32,700 117,800 Credits Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable Common Stock Retained Earnings $ 16,000 37,000 107,000 39,000 Totals $199,000 $199,000 The following is a summary of the transactions for the year: a. January 12 Provide services to customers on account, $69,400 b. February 25 Provide services to customers for cash, $78,800 C. March 19 Collect on accounts receivable,...
00 The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Part 7 of 8 Debits $ 4,100 9,100 3,100 28,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4.400 5,400 points 19,000 9,100 $44,300 eBook $44,300 References The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, 516,000, and on account,...
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