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3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following...
Required information [The following information applies to the questions displayed below.) The following transactions occurred during...
Required information [The following information applies to the questions displayed below.) The following transactions occurred during July: 1. Received $950 cash for services performed during July. 2. Received $5,550 cash from the issuance of common stock to owners. 3. Received $475 from a customer as payment for services performed during June. 4. Billed $3,800 to customers for services performed on account in July 5. Borrowed $2,600 from the bank and signed a promissory note. 6. Received $1,225 from a customer...
Quiz 3 Saved Required information (The following information applies to the questions displayed below.] The following...
Quiz 3 Saved Required information (The following information applies to the questions displayed below.] The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting Advertising $ 49,412 revenue Cash 43,977 Accounts receivable 7,584 Interest expense 2.355 Accounts payable 5,120 Operating 40,024 expenses Unearned revenue 1.250 Equipment 19.271 Income tax 2,471 expense The following activities occurred in 2016: 1. Performed advertising services on account, $58,450. 2.Received cash payments...
! Required Information [The following information applies to the questions displayed below.) Lexington Company engaged in...
! Required Information [The following information applies to the questions displayed below.) Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) 1. Acquired $3,900 cash from Issuing common stock. 2. Borrowed $2,650 from a bank. 3. Earned $3,550 of revenues. 4. Incurred $2,490 in expenses. 5. Paid dividends of $490. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) 1. Acquired...
Required information [The following information applies to the questions displayed below Costanza Company experienced the following...
Required information [The following information applies to the questions displayed below Costanza Company experienced the following events and transactions during July 6 Received 57,500 cash in advance of performing work s as 12 Completed the job for Solana. 18 Received $8,500 cash in advance of performing work for Anina Bordan 27 Completed the job for Haru. 31 None of the work for jordan has been performed a. Prepare journal entries (including any adjusting entries as of the July 31 month-end)...
Required information (The following information applies to the questions displayed below.) During January 2015, the first...
Required information (The following information applies to the questions displayed below.) During January 2015, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $24,000 cash. 2. Purchased $6,000 of equipment, paying $1,200 cash and signing a promissory note for $4,800. 3. Received $10,800 in cash for consulting services performed in January. 4. Purchased $1,800 of supplies on account; all of the supplies were used in January. 5. Provided consulting...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to the questions displayed below.] The following transactions occurred during July Received $1.500 cash for services performed during July 2. Received $7.450 cash from the issuance of common stock to owners. 3. Received $750 from a customer as payment for services performed during June 4. Billed $4.550 to customers for services performed on account in July 5. Borrowed $3,200 from the bank and signed a...
[The following information applies to the questions displayed below.) The following account balances are taken from...
[The following information applies to the questions displayed below.) The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising revenue Cash Accounts receivable Interest expense Accounts payable Operating expenses Unearned revenue Equipment Income tax expense $ 57700 51,353 8,375 2,516 5,470 46,737 1,460 22,503 2.885 The following activities occurred in 2016: 1. Performed advertising services on account, $68,250, 2. Received cash payments on account, $13,200. 3....
Required information The following information applies to the questions displayed below.) During the month of August,...
Required information The following information applies to the questions displayed below.) During the month of August, Boyce Company had the following transactions: (1)Revenues of $120,000 were earned and received in cash. (2)Bank loans of $18,000 were paid off. (3)Equipment of $40,000 was purchased with cash. (4)Expenses of $73,600 were paid. (5)Stockholders purchased additional shares for $44,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of Multiple Choice $46,400. $40,000 $32.400 $26.000 A...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October? $100,500. $ 78,000. o o...
Required Informatlon IThe following information applies to the questions displayed below] The following account balances are...
Required Informatlon IThe following information applies to the questions displayed below] The following account balances are taken from the December 31, 2015, financlal statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising revenue Cash Accounts recevable Interest expense Accounts payable Operating expenses Unearned revenue Equipment Income tax expense $57,700 51,353 8,375 2,516 5.470 46.737 1,460 22,503 2,885 The following activities occurred in 2016: 1. Performed advertising services on account, $68,250. 2. Recelved cash payments on account, $13,.200....
Required information [The following information applies to the questions displayed below.) The following transactions occurred during July: 1. Received $950 cash for services performed during July. 2. Received $5,550 cash from the issuance of common stock to owners. 3. Received $475 from a customer as payment for services performed during June. 4. Billed $3,800 to customers for services performed on account in July 5. Borrowed $2,600 from the bank and signed a promissory note. 6. Received $1,225 from a customer...
Quiz 3 Saved Required information (The following information applies to the questions displayed below.] The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting Advertising $ 49,412 revenue Cash 43,977 Accounts receivable 7,584 Interest expense 2.355 Accounts payable 5,120 Operating 40,024 expenses Unearned revenue 1.250 Equipment 19.271 Income tax 2,471 expense The following activities occurred in 2016: 1. Performed advertising services on account, $58,450. 2.Received cash payments...
! Required Information [The following information applies to the questions displayed below.) Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) 1. Acquired $3,900 cash from Issuing common stock. 2. Borrowed $2,650 from a bank. 3. Earned $3,550 of revenues. 4. Incurred $2,490 in expenses. 5. Paid dividends of $490. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) 1. Acquired...
Required information [The following information applies to the questions displayed below Costanza Company experienced the following events and transactions during July 6 Received 57,500 cash in advance of performing work s as 12 Completed the job for Solana. 18 Received $8,500 cash in advance of performing work for Anina Bordan 27 Completed the job for Haru. 31 None of the work for jordan has been performed a. Prepare journal entries (including any adjusting entries as of the July 31 month-end)...
Required information (The following information applies to the questions displayed below.) During January 2015, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $24,000 cash. 2. Purchased $6,000 of equipment, paying $1,200 cash and signing a promissory note for $4,800. 3. Received $10,800 in cash for consulting services performed in January. 4. Purchased $1,800 of supplies on account; all of the supplies were used in January. 5. Provided consulting...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to the questions displayed below.] The following transactions occurred during July Received $1.500 cash for services performed during July 2. Received $7.450 cash from the issuance of common stock to owners. 3. Received $750 from a customer as payment for services performed during June 4. Billed $4.550 to customers for services performed on account in July 5. Borrowed $3,200 from the bank and signed a...
[The following information applies to the questions displayed below.) The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising revenue Cash Accounts receivable Interest expense Accounts payable Operating expenses Unearned revenue Equipment Income tax expense $ 57700 51,353 8,375 2,516 5,470 46,737 1,460 22,503 2.885 The following activities occurred in 2016: 1. Performed advertising services on account, $68,250, 2. Received cash payments on account, $13,200. 3....
Required information The following information applies to the questions displayed below.) During the month of August, Boyce Company had the following transactions: (1)Revenues of $120,000 were earned and received in cash. (2)Bank loans of $18,000 were paid off. (3)Equipment of $40,000 was purchased with cash. (4)Expenses of $73,600 were paid. (5)Stockholders purchased additional shares for $44,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of Multiple Choice $46,400. $40,000 $32.400 $26.000 A...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October? $100,500. $ 78,000. o o...
Required Informatlon IThe following information applies to the questions displayed below] The following account balances are taken from the December 31, 2015, financlal statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising revenue Cash Accounts recevable Interest expense Accounts payable Operating expenses Unearned revenue Equipment Income tax expense $57,700 51,353 8,375 2,516 5.470 46.737 1,460 22,503 2,885 The following activities occurred in 2016: 1. Performed advertising services on account, $68,250. 2. Recelved cash payments on account, $13,.200....
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