Type Of Event | Assets | = | Liabilities | + | Stockholders' Equity | |||||||
Cash | Accounts Receivable | Supplies | Prepaid Rent | Land | = | Accounts Payable | Salaries Payable | Unearned Revenue | + | Common Stock | Retained earnings | |
AS | 60000 | = | + | 60000 | ||||||||
AS | 1200 | = | 1200 | + | ||||||||
AE | -18000 | 18000 | = | + | ||||||||
AU | -1200 | = | -1200 | + | ||||||||
AS | 42000 | = | 42000 | + | ||||||||
AU | -21000 | = | -21000 | + | ||||||||
AE | 38000 | -38000 | = | + | ||||||||
CE | = | 3200 | -3200 | + | ||||||||
AS | 200 | = | 200 | + |
Alcorn Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting...
Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $74,000 cash from the issue of common stock. 2. Purchased $4,000 of supplies on account. 3. Purchased land that cost $46,000 cash. 4. Paid $4,000 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $70,000. 6. Paid $35.000 cash for other operating expenses. 7. Collected $52.000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized...
Help Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $64,000 cash from the issue of common stock. 2. Purchased $2,000 of supplies on account. 3. Purchased land that cost $26,000 cash. 4. Paid $2,000 cash to settle accounts payable created in 5. Recognized revenue on account of $50,000. 6. Paid $25,000 cash for other operating expenses. 7. Collected $42,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued...
Alcorn Service Company was formed on January 1, Year 1 Events Affecting the Year 1 Accounting Period 1. Acquired $68,000 cash from the issue of common stock. 2. Purchased $2,800 of supplies on account. 3. Purchased land that cost $34,000 cash. 4. Paid $2,800 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $58,000. 6. Paid $29,000 cash for other operating expenses. 7. Collected $46,000 cash from accounts receivable. Information for Year 1 Adjusting...
Alcorn Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting Period 1. Acquired $79,000 cash from the issue of common stock. 2. Purchased $5,000 of supplies on account. 3. Purchased land that cost $56,000 cash. 4. Paid $5,000 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $80,000. 6. Paid $40,000 cash for other operating expenses. 7. Collected $57,000 cash from accounts receivable. Information for Year 1 Adjusting...
[The following information applies to the questions
displayed below.]
Alcorn Service Company was formed on January 1, 2018.
Events Affecting the 2018 Accounting Period
Acquired $78,000 cash from the issue of common stock.
Purchased $4,800 of supplies on account.
Purchased land that cost $54,000 cash.
Paid $4,800 cash to settle accounts payable created in Event
2.
Recognized revenue on account of $78,000.
Paid $39,000 cash for other operating expenses.
Collected $56,000 cash from accounts receivable.
Information for 2018 Adjusting Entries...
Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period Acquired $69,000 cash from the issue of common stock. Purchased $3,000 of supplies on account. Purchased land that cost $36,000 cash. Paid $3,000 cash to settle accounts payable created in Event 2. Recognized revenue on account of $60,000. Paid $30,000 cash for other operating expenses. Collected $47,000 cash from accounts receivable. Information for 2018 Adjusting Entries Recognized accrued salaries of $4,100 on December 31, 2018....
Required information [The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $75,000 cash from the issue of common stock. 2. Purchased $4,200 of supplies on account. 3. Purchased land that cost $48,000 cash. 4. Paid $4,200 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $72,000. 6. Paid $36,000 cash for other operating expenses. 7. Collected $53,000...
Required information The following information applies to the questions displayed below. Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $66,000 cash from the issue of common stock. 2. Purchased $2,400 of supplies on account. 3. Purchased land that cost $30,000 cash. 4. Paid $2,400 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $54,000. 6. Paid $27,000 cash for other operating expenses. 7. Collected $44,000...
Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $62,000 cash from the issue of common stock. 2. Purchased $1,600 of supplies on account. 3. Purchased land that cost $22,000 cash. 4. Paid $1,600 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $46,000. 6. Paid $23,000 cash for other operating expenses. 7. Collected $40,000...
3 5 ponts Events Affecting the Year 2 Accounting Period 1. Acquired $20,000 cash from the issue of common stock 2. Pald $3,200 cash to settle the salaries payable obligation 3. Paid $3,600 cash in advance to lease office space 4. Sold the land that cost $18,000 for $18,000 cash 5. Received $4,800 cash in advance for services to be performed in the future 6. Purchased $1000 of supplies on account during the year 7. Provided services on account of...