Homework Answers
| Assets | Income statement | ||||||||||||||
| Event | Cash | + | AR | = | Liabilities | + | Equity | Revenue | - | Expense | = | Net income | Statement | of cashflow | |
| (a) | (440) | + | 440 | = | + | (440) | OA | ||||||||
| (c) | 460 | + | (440) | 20 | 20 | 20 | 460 | OA |
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Han's Supplies' bank statement contained a $440 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...
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...
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...
1 Han's Supplies' bank statement contained a $270 NSF check that one of its customers had...
1 Han's Supplies' bank statement contained a $270 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 $290 cash in exchange for the bad check. The additional $ was a service fee charged by Hans. In the Cash Flow column, use OA...
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...
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...
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...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15 Required a. What is the amount that Home Furnishings must pay Una's imports on April 15? b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity, IA for Investing activity,...
2. Performed legal services for cash of $64,500 3. Purchased $1.400 of office supplies on account....
2. Performed legal services for cash of $64,500 3. Purchased $1.400 of office supplies on account. 4. Paid $1,260 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,400 6. Paid cash for operating expenses of $21,700. 7. Determined that at the end of the accounting period $145 of office supplies remained on hand. 8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15. Required a. What is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity, IA for investing activity,...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, Issued on September 1, 2018 had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of b. What amount of cash was paid for interest in 2018? c. Use a horizontal statements model to show how each event affects the balance sheet, income statement,...
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...
1 Han's Supplies' bank statement contained a $270 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 $290 cash in exchange for the bad check. The additional $ was a service fee charged by Hans. In the Cash Flow column, use OA...
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...
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...
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...
On April 6. Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, 1/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15 Required a. What is the amount that Home Furnishings must pay Una's imports on April 15? b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity, IA for Investing activity,...
2. Performed legal services for cash of $64,500 3. Purchased $1.400 of office supplies on account. 4. Paid $1,260 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,400 6. Paid cash for operating expenses of $21,700. 7. Determined that at the end of the accounting period $145 of office supplies remained on hand. 8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction...
Saved On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10,n/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15. Required a. What is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events in a horizontal statements model in the Cash Flow column, use OA to designate operating activity, IA for investing activity,...
1. Eaned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, Issued on September 1, 2018 had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of b. What amount of cash was paid for interest in 2018? c. Use a horizontal statements model to show how each event affects the balance sheet, income statement,...
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