Question

1. Performed $69.500 of services for clients on account 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of oth
Enter any decreases to account balances with a minus sign LEWIS AND HARPER Horizontal Statements Model For Accounting Year 1
0 0
Add a comment Improve this question Transcribed image text
Answer #1

a Horizontal Statements Model For Accounting Year 1 Balance Sheet Income Statement Assets Liabilities Equity Statement of Cas

---

Hope you Understood.
If you have any doubt please leave a comment.
Thank you.

Add a comment
Know the answer?
Add Answer to:
1. Performed $69.500 of services for clients on account 2. Performed $43,000 of services for cash....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 1. Performed $104,500 of services for clients on account. 2. Performed $57,000 of services for cash....

    1. Performed $104,500 of services for clients on account. 2. Performed $57,000 of services for cash. 3. Incurred $62,000 of other operating expenses on account 4. Paid $23,500 cash to an employee for salary. 5. Collected $71,000 cash from accounts receivable. 6. Paid $26,000 cash on accounts payable. 7. Paid a $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5,400 at the end of Year 1. Required a. Show the effects of the events on the financial statements...

  • 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...

  • please answer everything for a upvote thank you The following events apply to Lewis and Harper,...

    please answer everything for a upvote thank you The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $69,500 of services for clients on account. 2. Performed $43,000 of services for cash. 3. Incurred $34,000 of other operating expenses on account. 4. Paid $16,500 cash to an employee for salary. 5. Collected $50,000 cash from accounts receivable. 6. Paid $18,000 cash on accounts payable. 7. Paid a $5,000 cash dividend...

  • The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...

    The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: 1. Performed $102,000 of services for clients on account. 2. Performed $56,000 of services for cash. 3. Incurred $60,000 of other operating expenses on account. 4. Paid $23,000 cash to an employee for salary. 5. Collected $70,000 cash from accounts receivable. 6. Paid $20,000 cash on accounts payable. 7. Paid an $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5.200...

  • HC IHIUT CVCHIS OPTy w LCWS OHUIGICI, PUUIL OLLULIT HIT, IUI UIC ICOI OLLUTY CHIVU. 1....

    HC IHIUT CVCHIS OPTy w LCWS OHUIGICI, PUUIL OLLULIT HIT, IUI UIC ICOI OLLUTY CHIVU. 1. Performed $70,000 of services for clients on account 2. Performed $40,000 of services for cash. 3. Incurred $36,000 of other operating expenses on account 4. Paid $10,000 cash to an employee'for salary 5. Collected $47.000 cash from accounts receivable. 6. Paid $16,000 cash on accounts payable. 7. Paid a $8,000 cash dividend to the stockholders. 8. Accrued salaries were $2,000 at the end of...

  • The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...

    The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: Performed $82,000 of services for clients on account. Performed $48,000 of services for cash. Incurred $44,000 of other operating expenses on account. Paid $19,000 cash to an employee for salary. Collected $62,000 cash from accounts receivable. Paid $36,000 cash on accounts payable. Paid a $6,000 cash dividend to the stockholders. Accrued salaries were $3,600 at the end of Year 1. Required a....

  • Exercise 2-9A Effect of accounts receivable and accounts payable transactions on financial statements LO 2-1, 2-2,...

    Exercise 2-9A Effect of accounts receivable and accounts payable transactions on financial statements LO 2-1, 2-2, 2-3, 2-4 The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: Performed $89,500 of services for clients on account. Performed $51,000 of services for cash. Incurred $50,000 of other operating expenses on account. Paid $20,500 cash to an employee for salary. Collected $65,000 cash from accounts receivable. Paid $19,000 cash on accounts payable. Paid an...

  • a. Performed $28,500 of services on account. b. Collected $22.800 cash on accounts receivable. c. Poid...

    a. Performed $28,500 of services on account. b. Collected $22.800 cash on accounts receivable. c. Poid $5,700 cash in advance for an insurance policy. d. Paid $980 on accounts payable. e. Recorded the adjusting entry to recognize 53.100 of insurance expense. f. Received $5.700 cash for services to be performed at a later date. g. Purchased land for $1.710 cash. h. Purchased supplies for $1.000 cash. Required Record each of the above transactions in general journal form and then show...

  • The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...

    The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting perlod: 1. Performed $97,000 of services for clients on account. 2. Performed $54,000 of services for cash 3. Incurred $56,000 of other operating expenses on account. 4. Paid $22,000 cash to an employee for salary. 5. Collected $68,000 cash from accounts recelvable. 6. Pald $21,000 cash on accounts payable 7. Paid a $7,000 cash dividend to the stockholders 8. Accrued salaries were $4,800...

  • The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...

    The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: Performed $74,500 of services for clients on account. Performed $45,000 of services for cash. Incurred $38,000 of other operating expenses on account. Paid $17,500 cash to an employee for salary. Collected $60,000 cash from accounts receivable. Paid $16,000 cash on accounts payable. Paid an $6,000 cash dividend to the stockholders. Accrued salaries were $3,000 at the end of Year 1. Required a....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT