Homework Answers
| Assets | Income Statement | ||||||||||||||
| Event | Cash | + | Accounts Receivable | = | Liabilities | + | Equity | Revenues | - | Expenses | = | Net Income | Statement of Cash Flow | ||
| (a) | (270) | + | 270 | = | + | - | = | (270) | OA | ||||||
| (c) | 290 | + | (270) | = | + | 20 | 20 | - | = | 20 | 290 | OA | |||
| (b) | Asset exchange | ||||||||||||||
| (d) | Asset exchange is $270, Asset source is $20 | ||||||||||||||
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1 Han's Supplies' bank statement contained a $270 NSF check that one of its customers had...
Han's Supplies' bank statement contained a $270 NSF check that one of its customers had written...
Han's Supplies' bank statement contained a $270 NSF check that one of its customers had written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model like the following one: (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is not affected by...
Han's Supplies' bank statement contained a $410 NSF check that one of its customers had written...
Han's Supplies' bank statement contained a $410 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check. (c) Customer redeems the check by giving Hans $430 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to...
Exercise 6-7A Treatment of NSF check Han's Supplies' bank statement contained a $270 NSF check that...
Exercise 6-7A Treatment of NSF check Han's Supplies' bank statement contained a $270 NSF check that one of its LO 6-4 written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recordin g the one: appropriate amounts in a horizontal statements model like the following Assets = Liab. + Equity Rev. - Exp. Net Inc. Cash Flow Cash +Accts. Rec. b. Is the recognition of the NSF check on...
Han's Supplies' bank statement contained a $440 NSF check that one of its customers had written...
Han's Supplies' bank statement contained a $440 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check, (c) Customer redeems the check by giving Hans $460 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to...
Check my work Han's Supplies' bank statement contained a $270 NSF check that one of its...
Check my work Han's Supplies' bank statement contained a $270 NSF check that one of its customers had written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model like the following one: (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is...
Han’s Supplies’ bank statement contained a $260 NSF check that one of its customers had written...
Han’s Supplies’ bank statement contained a $260 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check, (c) Customer redeems the check by giving Hans $280 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to...
Seved Help Save & Exit Submit Check my work 7 Tom Yuppy, a wealthy investor, paid...
Seved Help Save & Exit Submit Check my work 7 Tom Yuppy, a wealthy investor, paid $20,000 for 1,000 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,000 shares of stock to Yuppy for $25 per share Required points Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity...
LO 2, 4 Problem 3-27A Recording events in a statements The following Asset Source Transactions 1. Began oper CHECK FIGURE b. Total debits: $39,125 model and T-accounts and preparing a trial balan...
LO 2, 4 Problem 3-27A Recording events in a statements The following Asset Source Transactions 1. Began oper CHECK FIGURE b. Total debits: $39,125 model and T-accounts and preparing a trial balance accounting events apply to Parks Co. for the year 2011 ations when the business acquired $20,000 cash from the issue of common stock 2. Performed services and collected cash of $1,000. . Collected $4,500 of cash in advance for services to be provided over the next 12 months...
HW SA LO 2-6, 2-6, 2-2 2-8,2-0 Required Identity whether each of the following transactions is...
HW SA LO 2-6, 2-6, 2-2 2-8,2-0 Required Identity whether each of the following transactions is an asset source (AS), asseuse (AU), asset exchange (AE) or claims exchange (CE). Also show the effects of the events on the financial statements using the horizontal statements model indicate whether the event increases (1) decreases (O), or does not affect (NA) each element of the francial statements. In the Cash Flows column, designate the cash flow as operating activities (OA), Investing activities (A),...
The Candle Shop experienced the following events during its first year of operations. Yeart 1. Acquired...
The Candle Shop experienced the following events during its first year of operations. Yeart 1. Acquired cash by Issuing common stock. 2. Pald a cash dividend to the stockholders. 3. Pald cash for operating expenses. 4. Borrowed cash from a bank 5. Provided services and collected cash. 6. Purchased land with cash. 7. Determined that the market value of the land is higher than the historical cost. Required a. Indicate whether each event is an asset source, use, or exchange...
Han's Supplies' bank statement contained a $270 NSF check that one of its customers had written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model like the following one: (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is not affected by...
Han's Supplies' bank statement contained a $410 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check. (c) Customer redeems the check by giving Hans $430 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to...
Exercise 6-7A Treatment of NSF check Han's Supplies' bank statement contained a $270 NSF check that one of its LO 6-4 written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recordin g the one: appropriate amounts in a horizontal statements model like the following Assets = Liab. + Equity Rev. - Exp. Net Inc. Cash Flow Cash +Accts. Rec. b. Is the recognition of the NSF check on...
Han's Supplies' bank statement contained a $440 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check, (c) Customer redeems the check by giving Hans $460 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to...
Check my work Han's Supplies' bank statement contained a $270 NSF check that one of its customers had written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model like the following one: (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is...
Seved Help Save & Exit Submit Check my work 7 Tom Yuppy, a wealthy investor, paid $20,000 for 1,000 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,000 shares of stock to Yuppy for $25 per share Required points Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity...
LO 2, 4 Problem 3-27A Recording events in a statements The following Asset Source Transactions 1. Began oper CHECK FIGURE b. Total debits: $39,125 model and T-accounts and preparing a trial balance accounting events apply to Parks Co. for the year 2011 ations when the business acquired $20,000 cash from the issue of common stock 2. Performed services and collected cash of $1,000. . Collected $4,500 of cash in advance for services to be provided over the next 12 months...
HW SA LO 2-6, 2-6, 2-2 2-8,2-0 Required Identity whether each of the following transactions is an asset source (AS), asseuse (AU), asset exchange (AE) or claims exchange (CE). Also show the effects of the events on the financial statements using the horizontal statements model indicate whether the event increases (1) decreases (O), or does not affect (NA) each element of the francial statements. In the Cash Flows column, designate the cash flow as operating activities (OA), Investing activities (A),...
The Candle Shop experienced the following events during its first year of operations. Yeart 1. Acquired cash by Issuing common stock. 2. Pald a cash dividend to the stockholders. 3. Pald cash for operating expenses. 4. Borrowed cash from a bank 5. Provided services and collected cash. 6. Purchased land with cash. 7. Determined that the market value of the land is higher than the historical cost. Required a. Indicate whether each event is an asset source, use, or exchange...
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