Question

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 cash expenses. • Paid a $455 cash dividend. Based on this information alone, what is Alexa's total net income at the end of the year? Question 11 O out of 1.5 points Janeek Inc. experienced the following events in 2018. its first year of operation: 1. Performed counseling services for $15,830 cash. 2. Purchased $1,500 of supplies on account. 3. A physical count on December 31, 2018, found that there was $200 of supplies on hand, Based on this information, not income is $ Question 12 O out of 1.5 points Hopkins CPAs is a service business that provides accounting services to small businesses. The company experienced the following events: 1. Borrowed $19,810 from the bank to start the business 2. Provided $25,840 of services to clients and collected $21,040 cash 3. Pald salary expense of $12.720. What is Hopkins total assets after recording these transactions?

Answer 1

28 10) 29 Revenues Less Cash expenses Total Net Income at the end of the Year 2,600 1,150 1,450 30 31 32 11) 33 Counselling Services Less Supplies expenses (1500-200) Net Income 15,830 1,300 14,530 34 35 36 12) 37 38 Cash (19810 +21040-12720) Accounts Receivable (25840-21040) Total Assets 28,130 4,800 32,930 39 40 41