Homework Answers
a & c :
| Event | Revenue | Expense | Statement of Cash Flows | |
| 1. | $ 40,000 | FA | ||
| 2. | $ 82,000 | |||
| 3. | 6,000 | FA | ||
| 4. | 76,000 | OA | ||
| 5. | $ 53,000 | (53,000) | OA | |
| 6. | 19,000 | 19,000 | OA | |
| 7. | 3,500 |
b,, d, e & f :
| b. | Net Income | $ 44,500 |
| d. | Net cash flows from operating activities | 42,000 |
| e. | Before-closing balance | 101,000 |
| After-closing balance | 0 | |
| f. | Balance of retained earnings | 38,500 |
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cruals/Deferrals Saved Help Save & Exit Check my 1....
the first photo is diresctions Saved Help Cordell Inc, experienced the following events in 2018, its...
the first photo is diresctions
Saved Help Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $54,000 cash from the issue of common stock. 2. Performed services on account for $76,000. 3. Paid a $5,400 cash dividend to the stockholders. 4. Collected $60,000 of the accounts receivable. 5. Paid $54,000 cash for other operating expenses. 6. Performed services for $12,500 cash. 7. Recognized $2,400 of accrued utilities expense at the end of the year....
Cordell Inc experienced the following events in 2018, its first year of operation 1. Received $58.000...
Cordell Inc experienced the following events in 2018, its first year of operation 1. Received $58.000 cash from the issue of common stock 2. Performed services on account for $80,000 3. Paid a $5,800 cash dividend to the stockholders. 4. Collected $64,000 of the accounts receivable 5. Paid $58.000 cash for other operating expenses 6. Performed services for $17.000 cash 7. Recognized $2,800 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
2,000 cash from the issue of common stock Cordell Inc, experienced the following events in 2018,...
2,000 cash from the issue of common stock Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $52,000 cash from the issue of common stock. 2. Performed services on account for $80,000 3. Pald a $5,200 cash dividend to the stockholders. 4. Collected $58,000 of the accounts receivable. 5. Paid $52,000 cash for other operating expenses. 6. Performed services for $16,000 cash. 7. Recognized $2,200 of accrued utilities expense at the end of the...
Cordell Inc. experienced the following events in 2018, its first year of operation: 1. Received $56,000...
Cordell Inc. experienced the following events in 2018, its first year of operation: 1. Received $56,000 cash from the issue of common stock. 2. Performed services on account for $78,000. 3. Paid a $5,600 cash dividend to the stockholders. 4. Collected $62,000 of the accounts receivable. 5. Paid $56,000 cash for other operating expenses. 6. Performed services for $18,500 cash. 7. Recognized $2,600 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
Cordell Inc. experienced the following events in 2018, its first year of operation: Received $46,000 cash...
Cordell Inc. experienced the following events in 2018, its first
year of operation:
Received $46,000 cash from the issue of common stock.
Performed services on account for $74,000.
Paid a $4,600 cash dividend to the stockholders.
Collected $52,000 of the accounts receivable.
Paid $46,000 cash for other operating expenses.
Performed services for $15,000 cash.
Recognized $1,600 of accrued utilities expense at the end of the
year.
Required
a. & c. Identify the events that result in
revenue or expense recognition...
Identify the events that result in revenue or expense recognition and those which affect the statement...
Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, or IA for investing activity. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.) Cordell Inc, experienced the following events in...
Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $43,000...
Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $43,000 cash from the issue of common stock. 2. Performed services on account for $71,000. 3. Paid a $4,300 cash dividend to the stockholders. 4. Collected $49,000 of the accounts receivable. 5. Pald $43,000 cash for other operating expenses. 6. Performed services for $14,500 cash. 7. Recognized $1,300 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
Need help solving this chart Saved Help Save & Exit Sub Check my worl The accounting...
Need help solving this chart
Saved Help Save & Exit Sub Check my worl The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Common stock Retained earnings $18,900 19, 110 (210 units @ $91) 14,800 23, 210 The following five transactions occurred in 2018: 1. First purchase (cash) 125 units @ $93 2. Second purchase (cash) 200 units @ $101 3. Sales (all ca 365 units @ $186 4. Paid...
Check my work Req Req B1 Reg B2 Reg B3 Reqc Record the events in a...
Check my work Req Req B1 Reg B2 Reg B3 Reqc Record the events in a statements model shown below. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow to designate operating activity, IA for investing activity, FA for financing activity, and for no affect, leave the cell blank. Not every cell will require entry.) Assets Event No. POWELL COMPANY Financial Statements Model for 2018 - Stockholders' Equity Income Statement Common Retained...
Help Save & Exit Su Check my wo Required a. Show the effects of the events...
Help Save & Exit Su Check my wo Required a. Show the effects of the events on the financial statements using a horizontal statements model given below. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investing activity. FA for financing activity, and NC for net change in cash. The beginning balances have been recorded as an example. (Enter any decreases to account balances with a minus sign. Not all cells in the "Statement...
the first photo is diresctions
Saved Help Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $54,000 cash from the issue of common stock. 2. Performed services on account for $76,000. 3. Paid a $5,400 cash dividend to the stockholders. 4. Collected $60,000 of the accounts receivable. 5. Paid $54,000 cash for other operating expenses. 6. Performed services for $12,500 cash. 7. Recognized $2,400 of accrued utilities expense at the end of the year....
Cordell Inc experienced the following events in 2018, its first year of operation 1. Received $58.000 cash from the issue of common stock 2. Performed services on account for $80,000 3. Paid a $5,800 cash dividend to the stockholders. 4. Collected $64,000 of the accounts receivable 5. Paid $58.000 cash for other operating expenses 6. Performed services for $17.000 cash 7. Recognized $2,800 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
2,000 cash from the issue of common stock Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $52,000 cash from the issue of common stock. 2. Performed services on account for $80,000 3. Pald a $5,200 cash dividend to the stockholders. 4. Collected $58,000 of the accounts receivable. 5. Paid $52,000 cash for other operating expenses. 6. Performed services for $16,000 cash. 7. Recognized $2,200 of accrued utilities expense at the end of the...
Cordell Inc. experienced the following events in 2018, its first year of operation: 1. Received $56,000 cash from the issue of common stock. 2. Performed services on account for $78,000. 3. Paid a $5,600 cash dividend to the stockholders. 4. Collected $62,000 of the accounts receivable. 5. Paid $56,000 cash for other operating expenses. 6. Performed services for $18,500 cash. 7. Recognized $2,600 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
Cordell Inc. experienced the following events in 2018, its first
year of operation:
Received $46,000 cash from the issue of common stock.
Performed services on account for $74,000.
Paid a $4,600 cash dividend to the stockholders.
Collected $52,000 of the accounts receivable.
Paid $46,000 cash for other operating expenses.
Performed services for $15,000 cash.
Recognized $1,600 of accrued utilities expense at the end of the
year.
Required
a. & c. Identify the events that result in
revenue or expense recognition...
Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, or IA for investing activity. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.) Cordell Inc, experienced the following events in...
Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $43,000 cash from the issue of common stock. 2. Performed services on account for $71,000. 3. Paid a $4,300 cash dividend to the stockholders. 4. Collected $49,000 of the accounts receivable. 5. Pald $43,000 cash for other operating expenses. 6. Performed services for $14,500 cash. 7. Recognized $1,300 of accrued utilities expense at the end of the year. Required a. & c. Identify the events...
Need help solving this chart
Saved Help Save & Exit Sub Check my worl The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Common stock Retained earnings $18,900 19, 110 (210 units @ $91) 14,800 23, 210 The following five transactions occurred in 2018: 1. First purchase (cash) 125 units @ $93 2. Second purchase (cash) 200 units @ $101 3. Sales (all ca 365 units @ $186 4. Paid...
Check my work Req Req B1 Reg B2 Reg B3 Reqc Record the events in a statements model shown below. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow to designate operating activity, IA for investing activity, FA for financing activity, and for no affect, leave the cell blank. Not every cell will require entry.) Assets Event No. POWELL COMPANY Financial Statements Model for 2018 - Stockholders' Equity Income Statement Common Retained...
Help Save & Exit Su Check my wo Required a. Show the effects of the events on the financial statements using a horizontal statements model given below. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investing activity. FA for financing activity, and NC for net change in cash. The beginning balances have been recorded as an example. (Enter any decreases to account balances with a minus sign. Not all cells in the "Statement...
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