Homework Answers
1) Accounting equation
| Cash | + | Land | = | Notes payable | + | Common Stock | + | Retained earnings |
| 700 | + | 2100 | = | 1000 | 1200 | 600 | ||
| -520 | -520 | |||||||
| 2110 | 2110 | |||||||
| -1595 | -1595 | |||||||
| -365 | -365 | |||||||
| 330 | 2100 |
Earnings = 2110-1595 = 515
% = 515/2430 = 21.2%
b) Statement of cash inflow from operating activities = Cash collections = 3602
Add Answer to:
Explanations help
Alexa Company was started in Year 1. At the end of Year 1 the...
Explanations help Question 14 Alexa Company was started in Year 1. At the end of Year...
Explanations help
Question 14 Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation. Assets Liabilities Stockholders' Equity Cash + Land = Notes Payable + Common Stock + Retained Earnings 700 2,100 II 1,000 1,200 600 During Year 2, the company experienced the following accounting events. • Paid off $680 of its note payable. • Earned $2,745 of cash revenue. • Paid $1,735 of cash expenses. • Paid a $360...
Question 10 O out of 1.5 points Alexa Company was started in Year 1. At the...
Question 10 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation, Assets Liabilities Stockholders' Equity + Cash + Land = Notes Payable + Common Stock + Retained Earnings 700 + 2,100 1.000 + 1,200 + 600 During Year 2, the company experienced the following accounting events. • Paid off $675 of its note payable. • Eamed $2,600 of cash revenue • Paid $1,150 of...
Alexis Company was started in Year 1. At the end of Year 1 the Company had...
Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation. Assets Cash + Land 600 - 2,200 Liabilities Notes Payable 1,000 = - + Stockholders' Equity Common Stock + Retained Earnings 1,400 + 400 During Year 2, the company experienced the following accounting events. • Paid off $500 of its notes payable. • Earned $700 of cash revenue. • Paid $400 of cash expenses. • Paid a $100 cash dividend...
Question 5 1.5 out of 1.5 points Hadley Dress Shops experienced the following events during its...
Question 5 1.5 out of 1.5 points Hadley Dress Shops experienced the following events during its third accounting period. (1) Sold merchandise that cost $6,970 for $15,950 cash. (2) Pald $3,962 of operating expenses (3) Paid a $2,530 cash dividend. Based on this information, the total amount of net increase to retained earnings would be $ Question 6 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the...
Question 16 O out of 1.5 points As of December 31, 2018, Hux Company had total...
Question 16 O out of 1.5 points As of December 31, 2018, Hux Company had total cash of $197,700, notes payable of $62,300, and common stock of $15,680 and retained earnings of ?. During 2019, Hux eamed $168.990 of cash revenue, paid $80,900 for cash expenses, and paid a $5,400 cash dividend to the stockholders. What is Hux's total retained earnings at the end of 2019? Question 17 O out of 1.5 points Hart, Attorney at Law, experienced the following...
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by...
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by the company in 2011 was $2,600, expenses paid during the period were $1,135, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of 2011 was On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock = $500 During 2011, Baird paid dividends to its stockholders of...
During Year 2, Chico Company earned $1,550 of cash revenue, paid $800 of cash expenses, and...
During Year 2, Chico Company earned $1,550 of cash revenue, paid $800 of cash expenses, and paid a $300 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Net Income amounted to $750 Total assets increased by $450 Cash inflow from operating activities was $750 Cash outflow from financing activities was $450
Holloway Company started operations on January 1, Year 1. During Year 1. Holloway earned $8,000 of...
Holloway Company started operations on January 1, Year 1. During Year 1. Holloway earned $8,000 of service revenue and collected $6,800 cash from accounts receivable. Required Based on this information alone, determine the following for Holloway Company. (Hint Record the events in a horizontal financial statements model before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) HOLLOWAY COMPANY Effect of Events on the Year 1 Horizontal Financial Statements Assets - Liabilities + Stockholders' Equity Event...
During Year 2, Chico Company earned $3,050 of cash revenue, pald $1,300 of cash expenses, and...
During Year 2, Chico Company earned $3,050 of cash revenue, pald $1,300 of cash expenses, and paid a $800 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Net Income amounted to $1,750 Total assets increased by $950 Cash Inflow from operating activities was $1,750 Cash outflow from financing activities was $950
Holloway Company earned $7,600 of service revenue on account during Year 1. The company collected $6,460...
Holloway Company earned $7,600 of service revenue on account
during Year 1. The company collected $6,460 cash from accounts
receivable during Year 1.
Required
Based on this information alone, determine the following for
Holloway Company. (Hint: Record the events in general ledger
accounts under an accounting equation before satisfying the
requirements.) (Enter any decreases to account balances
with a minus sign.)
a. The balance of the accounts receivable that
would be reported on the December 31, Year 1, balance sheet....
Explanations help
Question 14 Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation. Assets Liabilities Stockholders' Equity Cash + Land = Notes Payable + Common Stock + Retained Earnings 700 2,100 II 1,000 1,200 600 During Year 2, the company experienced the following accounting events. • Paid off $680 of its note payable. • Earned $2,745 of cash revenue. • Paid $1,735 of cash expenses. • Paid a $360...
Question 10 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation, Assets Liabilities Stockholders' Equity + Cash + Land = Notes Payable + Common Stock + Retained Earnings 700 + 2,100 1.000 + 1,200 + 600 During Year 2, the company experienced the following accounting events. • Paid off $675 of its note payable. • Eamed $2,600 of cash revenue • Paid $1,150 of...
Alexis Company was started in Year 1. At the end of Year 1 the Company had the following accounting equation. Assets Cash + Land 600 - 2,200 Liabilities Notes Payable 1,000 = - + Stockholders' Equity Common Stock + Retained Earnings 1,400 + 400 During Year 2, the company experienced the following accounting events. • Paid off $500 of its notes payable. • Earned $700 of cash revenue. • Paid $400 of cash expenses. • Paid a $100 cash dividend...
Question 5 1.5 out of 1.5 points Hadley Dress Shops experienced the following events during its third accounting period. (1) Sold merchandise that cost $6,970 for $15,950 cash. (2) Pald $3,962 of operating expenses (3) Paid a $2,530 cash dividend. Based on this information, the total amount of net increase to retained earnings would be $ Question 6 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the...
Question 16 O out of 1.5 points As of December 31, 2018, Hux Company had total cash of $197,700, notes payable of $62,300, and common stock of $15,680 and retained earnings of ?. During 2019, Hux eamed $168.990 of cash revenue, paid $80,900 for cash expenses, and paid a $5,400 cash dividend to the stockholders. What is Hux's total retained earnings at the end of 2019? Question 17 O out of 1.5 points Hart, Attorney at Law, experienced the following...
At the end of 2011, retained earnings for the Bisk Company was $2,550. Revenue earned by the company in 2011 was $2,600, expenses paid during the period were $1,135, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of 2011 was On January 1, 2011, Baird Company had beginning balances as follows: Assets = $1,250 Liabilities = $420 Common Stock = $500 During 2011, Baird paid dividends to its stockholders of...
During Year 2, Chico Company earned $1,550 of cash revenue, paid $800 of cash expenses, and paid a $300 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Net Income amounted to $750 Total assets increased by $450 Cash inflow from operating activities was $750 Cash outflow from financing activities was $450
Holloway Company started operations on January 1, Year 1. During Year 1. Holloway earned $8,000 of service revenue and collected $6,800 cash from accounts receivable. Required Based on this information alone, determine the following for Holloway Company. (Hint Record the events in a horizontal financial statements model before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) HOLLOWAY COMPANY Effect of Events on the Year 1 Horizontal Financial Statements Assets - Liabilities + Stockholders' Equity Event...
During Year 2, Chico Company earned $3,050 of cash revenue, pald $1,300 of cash expenses, and paid a $800 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Net Income amounted to $1,750 Total assets increased by $950 Cash Inflow from operating activities was $1,750 Cash outflow from financing activities was $950
Holloway Company earned $7,600 of service revenue on account
during Year 1. The company collected $6,460 cash from accounts
receivable during Year 1.
Required
Based on this information alone, determine the following for
Holloway Company. (Hint: Record the events in general ledger
accounts under an accounting equation before satisfying the
requirements.) (Enter any decreases to account balances
with a minus sign.)
a. The balance of the accounts receivable that
would be reported on the December 31, Year 1, balance sheet....
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 29 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago