Assets | Liabilities | Stockholders' Equity | Income Statement | Statement of cash flows | ||||||
Cash | Supplies | Accounts payable | Unearned Revenue | Retained Earnings | Revenue | Expense | Net income | |||
1 | 36000 | 36000 | 36000 | OA | ||||||
2 | 54000 | 54000 | 54000 | 54000 | 54000 | OA | ||||
3 | 2800 | 2800 | ||||||||
4 | -2400 | -2400 | -2400 | OA | ||||||
5 | -5000 | -5000 | -5000 | FA | ||||||
6 | -31000 | -31000 | 31000 | -31000 | -31000 | OA | ||||
7 | -2600 | -2600 | 2600 | -2600 | ||||||
8 | -27000 | 27000 | 27000 | 27000 | ||||||
Totals | 51600 | 200 | 400 | 9000 | 42400 | 81000 | 33600 | 47400 | 51600 | NC |
Revenue recognized = 36000*9/12 = $27000 |
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations:...
Hart, Attorney at Law, experienced the following transactions in
Year 1, the first year of operations:
Accepted $16,900 on April 1, Year 1, as a retainer for services
to be performed evenly over the next 12 months.
Performed legal services for cash of $69,500.
Purchased $1,450 of office supplies on account.
Paid $1,305 of the amount due on accounts payable.
Paid a cash dividend to the stockholders of $5,500.
Paid cash for operating expenses of $19,800.
Determined that at the...
Hart, Attorney at Law, experienced the following transactions in 2016, the first year of operatore 1. Accepted $38,000 on Apr 1, 2016, as a retainer for services to be performed everly over the rest 12 2. Performed legal services for cash of $54.000 3. Purchased $2.800 of office supplies on account 4. Paid $2.400 of the amount due on accounts payable 5. Paid a cash dividend to the stockholders of $5.000 6. Paid cash for operating expenses of $31,000 7....
Hart, Attorney at Law,
experienced the following transactions in Year 1, the first year of
operations:
Accepted $36,000 on April 1, Year 1, as a retainer for services
to be performed evenly over the next 12 months.
Performed legal services for cash of $54,000.
Purchased $2,800 of office supplies on account.
Paid $2,400 of the amount due on accounts payable.
Paid a cash dividend to the stockholders of $5,000.
Paid cash for operating expenses of $31,000.
Determined that at the...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $16,700 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months 2. Performed legal services for cash of $69.000 3. Purchased $1.500 of office supplies on account 4. Paid $1,350 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,500 6. Paid cash for operating expenses...
Hart, Attorney af Law, experienced the following transactions in
year 1, the first year of operations:
1. Accepted $18,200 on April 1, year 1, as a retainer for
services to be performed evenly over the next 12 months.
2. Performed legal services for cash of $61,500.
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 $4,900.
6. Paid cash for operating expenses...
Check Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: for Services to be perform es for cash of $66.000 3. Purchased $1500 1. Accepted $17,600 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $66,000. 3. Purchased $1,500 of office supplies on account. 4. Paid $1,350 of the amount due on accounts payable. 5. Paid...
Seved Chapter 2 Quiz Hart. Attorney at Law, experienced the following transactions in 2018, the first year of operations 1 1. Accepted $15.500 on April 1. 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $66,000. 3. Purchased $1,100 of office supplies on account. 4. Paid $990 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,600. 6. Paid cash...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $19,200 on April 1. Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Also performed legal services for cash of $62,000. 3. Purchased $1,050 of office supplies on account. 4. Paid $945 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000. 6. Paid cash for operating...
Supplies, unearned revenue, and the financial statements model Hart, Attorney at Law, experienced the following transactions in 2018, the first year of operations: 1. Accepted $36,000 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $54,000. 3. Purchased $2,800 of office supplies on account. 4. Paid $2,400 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000....
no Attorney at Low, experienced the Tonowing uransactions in 2016, the rst year UI per un 1. Accepted $15,200 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $61,500. 3. Purchased $1,000 of office supplies on account. 4. Paid $900 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,000. 6. Paid cash for operating expenses of...