Homework Answers
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| Balance sheet (at beginning) | ||
| Assets | 5,850 | |
| Liabilities and equities | ||
| Liabilities (Answer B) (5850-1474) | 4,376 | |
| Equities | ||
| Paid in capital | 979 | |
| Retained earnings | 495 | |
| Total stockholder's equity | 1,474 | |
| Total liabilities and stockholder's equity | 5,850 |
| Income statement | ||
| Revenues | 8,550 | |
| Less: Costs and expenses (Answer E) (8550-613) | 7,937 | |
| Net income | 613 |
| Statement of change in stockholder's equity | |||
| Paid in capital | Retained earnings | Total stockholder's equity | |
| Beginning balance (from previous balance sheet) | 979 | 495 | 1,474 |
| Issued of shares | 152 | 152 | |
| Add: net income | 613 | 613 | |
| Less: Dividends | (336) | (336) | |
| Ending balance | 1,131 | 772 | 1,903 |
| Balance sheet (at ending) | ||
| Assets (Anser A) | 7,944 | |
| Liabilities and equities | ||
| Liabilities | 6,041 | |
| Equities | ||
| Paid in capital (Answer C) | 1,131 | |
| Retained earnings (Answer D) | 772 | |
| Total stockholder's equity | 1,903 | |
| Total liabilities and stockholder's equity | 7,944 |
As per accounting equation, total assets = Total liabilities and stockholder's equity = 7944
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please do 15.1 & 15.2
Window Help 43% CHAPTER 15 HOMEWORK PROBLEMS.pdf (page 1 of 2)...
15-2 Analysis of Transactions; Preparation of Statements The Mentha Company was incorporated on July 1, 20X1....
15-2 Analysis of Transactions; Preparation of Statements The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July: A. The company was incorporated. Common stockholders invested S145,000 cash. B. Purchased merchandise inventory for...
please answer questions 1,2,3 The Mentha Company was incorporated on July 1, 20X1. Mentha had 10...
please answer questions 1,2,3
The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July: A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, $55,000. C....
The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock....
The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, S55,000 C. Purchased merchandise inventory on...
Answer all questions above 15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores...
Answer all questions above
15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The company's actual data (slightly simplified) follow for its fiscal year ended June 15, 2009 (in millions of dollars): Assets, beginning of period Assets, end of period $5,850 Liabilities, beginning of period B Liabilities, end of period 6,041 Paid-in capital, beginning of period Paid-in capital, end of period Retained carnings, beginning of period 979 495 Retained carnings, end of period Revenues...
15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The...
15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The company's actual data (slightly simplified) follow for its fiscal year ended June 15, 2009 in millions of dollars) Asset beginning of period 55,850 Assets, end of period Liabilities, beginning of period Liabilities, and of period 6,041 Paid-in capital, beginning of period 979 Paid-in capital, end of period Retained comings, beginning of period 495 Retained comings, end of period Revenues RESSO Costs and expenses Net...
Please help place the following items into the transactions! i More Info The Baxter Company was...
Please help place the following items into the
transactions!
i More Info The Baxter Company was incorporated on September 1, 20X0. Baxter had 20 holders of common stock. Reya Baxter, the president and chief e officer, held 59% of the shares. The company rented space in chain discount stores and specialized in selling ladies' accessories. Baxter's first ld was in a store that was part of The Ivy Hall in Cleveland. The following events occurred during September (Click the icon...
Chapter 14 –Corporation: Dividends On-line Homework The stockholders’ equity accounts of Karp Company at January 1,...
Chapter 14 –Corporation: Dividends On-line Homework The stockholders’ equity accounts of Karp Company at January 1, 2017, are as follows: Preferred Stock, 6%, $100 par $600,000 Common Stock, $5 par 500,000 Paid-in Capital in Excess of Par—Preferred Stock 190,000 Paid-in Capital in Excess of Par—Common Stock 297,500 Retained Earnings 800,000 Treasury Stock (10,000 shares) 100,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $1 cash...
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following...
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11.000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings Sales revenue Coat of goods sold Salaries expense Rent expense Advertising expense Totals 23,000 23,000 6,500 eBook 0 Print References The following transactions occurred during...
: Homework Chapter 1 i Help Save & EXIT SU At the beginning of 2018, Artichoke...
: Homework Chapter 1 i Help Save & EXIT SU At the beginning of 2018, Artichoke Academy reported a balance in common stock of $155,000 and a balance in retained earnings of $55,000. During the year, the company issued additional shares of stock for $45,000, earned net income of $35,000, and paid dividends of $10,500. In addition, the company reported balances for the following assets and liabilities on December 31. $ Assets Cash Supplies Prepaid rent Land Liabilities 53,100 Accounts...
Please help with each requirment 10 Wolfpack Company is a merchandising company that is preparing a...
Please help with each
requirment
10 Wolfpack Company is a merchandising company that is preparing a budget for the month of July. It has provided the following information: $ 75,200 60,000 Wolfpack Company Balance Sheet June 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 210.000 $ 392,000 $ 52,000 100,000 240,000 $ 392,000 Budgeting Assumptions: 1. All sales are...
15-2 Analysis of Transactions; Preparation of Statements The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July: A. The company was incorporated. Common stockholders invested S145,000 cash. B. Purchased merchandise inventory for...
please answer questions 1,2,3
The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July: A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, $55,000. C....
The Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, who was the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized in selling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, S55,000 C. Purchased merchandise inventory on...
Answer all questions above
15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The company's actual data (slightly simplified) follow for its fiscal year ended June 15, 2009 (in millions of dollars): Assets, beginning of period Assets, end of period $5,850 Liabilities, beginning of period B Liabilities, end of period 6,041 Paid-in capital, beginning of period Paid-in capital, end of period Retained carnings, beginning of period 979 495 Retained carnings, end of period Revenues...
15-1 Balance Sheet Equation Sacks Fifth operates 197 fashion specialty retail stores in 28 states. The company's actual data (slightly simplified) follow for its fiscal year ended June 15, 2009 in millions of dollars) Asset beginning of period 55,850 Assets, end of period Liabilities, beginning of period Liabilities, and of period 6,041 Paid-in capital, beginning of period 979 Paid-in capital, end of period Retained comings, beginning of period 495 Retained comings, end of period Revenues RESSO Costs and expenses Net...
Please help place the following items into the
transactions!
i More Info The Baxter Company was incorporated on September 1, 20X0. Baxter had 20 holders of common stock. Reya Baxter, the president and chief e officer, held 59% of the shares. The company rented space in chain discount stores and specialized in selling ladies' accessories. Baxter's first ld was in a store that was part of The Ivy Hall in Cleveland. The following events occurred during September (Click the icon...
Chapter 2 Homework - Problems Seved Help Save & CH 1 5 points Skipped The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11.000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings Sales revenue Coat of goods sold Salaries expense Rent expense Advertising expense Totals 23,000 23,000 6,500 eBook 0 Print References The following transactions occurred during...
: Homework Chapter 1 i Help Save & EXIT SU At the beginning of 2018, Artichoke Academy reported a balance in common stock of $155,000 and a balance in retained earnings of $55,000. During the year, the company issued additional shares of stock for $45,000, earned net income of $35,000, and paid dividends of $10,500. In addition, the company reported balances for the following assets and liabilities on December 31. $ Assets Cash Supplies Prepaid rent Land Liabilities 53,100 Accounts...
Please help with each
requirment
10 Wolfpack Company is a merchandising company that is preparing a budget for the month of July. It has provided the following information: $ 75,200 60,000 Wolfpack Company Balance Sheet June 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 210.000 $ 392,000 $ 52,000 100,000 240,000 $ 392,000 Budgeting Assumptions: 1. All sales are...
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