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Requirement C and D
![Total assets I. 3500 Cash 2. Shooo AR 4. (27000) Cash 6. (3600] Cash 10100 Cash 8. (6108] Cash $62,400 Ansu 8 swer Net Income](http://img.homeworklib.com/questions/2e009ac0-17ca-11eb-bcb6-5b17aa8d927d.png?x-oss-process=image/resize,w_560)
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The following events apply to Montgomery Company for Year 1, its first year of operation: 1....
The following events apply to Montgomery Company for Year 1, its first year of operation: 1....
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $35.000 from the issue of common stock 2. Performed $54.000 of services on account. 3. Incurred $7700 of other operating expenses on account. 4. Pald $27.000 cash for salaries expense. 5. Collected $37.500 of accounts receivable. 6. Pald a $3.600 dividend to the stockholders. 7. Performed $10,100 of services for cash. 8. Pald $6,100 of the accounts payable. Required a. Record...
The following events apply to Montgomery Company for Year 1, its first year of operation: 1....
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $31,000 from the issue of common stock 2. Performed $50,000 of services on account. 3. Incurred $6,900 of other operating expenses on account. 4. Paid $23,000 cash for salaries expense 5. Collected $35,500 of accounts receivable. 6. Paid a $3,200 dividend to the stockholders. 7. Performed $9,700 of services for cash. 8. Paid $5,700 of the accounts payable. Required a. Record...
A: Received cash of $35,000 from the issue of common stock. B: Performed $54,000 of services...
A: Received cash of $35,000 from the issue of common stock.
B: Performed $54,000 of services on account.
C:Incurred $7,700 of other operating expenses on account.
D:Paid $27,000 cash for salaries expense.
e: Collected $37,500 of accounts receivable.
f: Paid a $3,600 dividend to the stockholders.
G: Performed $10,100 of services for cash.
H: Paid $6,100 of the accounts payable.
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $35,000...
The following events apply to Montgomery Company for 2016, its first year of operation: 1. Received...
The following events apply to Montgomery Company for 2016, its first year of operation: 1. Received cash of $49,000 from the issue of common stock. 2. Performed $68,000 of services on account. 3. Incurred $10,500 of other operating expenses on account. 4. Paid $41,000 cash for salaries expense. 5. Collected $44,500 of accounts receivable. 6. Paid a $5,000 dividend to the stockholders. 7. Performed $11,500 of services for cash. 8. Paid $7,500 of the accounts payable.
The following events apply to Pearson Service Co. for 2018, its first year of operation: Received...
The following events apply to Pearson Service Co. for 2018, its first year of operation: Received cash of $50,000 from the issue of common stock. Performed $90,000 worth of services on account. Paid $64,000 cash for salaries expense. Purchased supplies for $12,000 on account. Collected $78,000 of accounts receivable. Paid $8,500 of the accounts payable. Paid a $5,000 dividend to the stockholders. Had $1,500 of supplies on hand at the end of the period. Required Record these events in general...
The following events apply to Pearson Service Co. for 2018, its first year of operation: Received...
The following events apply to Pearson Service Co. for 2018, its
first year of operation:
Received cash of $60,000 from the issue of common stock.
Performed $115,000 worth of services on account.
Paid $79,000 cash for salaries expense.
Purchased supplies for $17,000 on account.
Collected $93,000 of accounts receivable.
Paid $12,500 of the accounts payable.
Paid a $6,000 dividend to the stockholders.
Had $2,000 of supplies on hand at the end of the period.
Required
Record these events in general...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting perlod: 1. Performed $97,000 of services for clients on account. 2. Performed $54,000 of services for cash 3. Incurred $56,000 of other operating expenses on account. 4. Paid $22,000 cash to an employee for salary. 5. Collected $68,000 cash from accounts recelvable. 6. Pald $21,000 cash on accounts payable 7. Paid a $7,000 cash dividend to the stockholders 8. Accrued salaries were $4,800...
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...
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 Year 1, its first year of operation: 1. Received...
Cordell Inc. experienced the following events in Year 1, 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...
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $35.000 from the issue of common stock 2. Performed $54.000 of services on account. 3. Incurred $7700 of other operating expenses on account. 4. Pald $27.000 cash for salaries expense. 5. Collected $37.500 of accounts receivable. 6. Pald a $3.600 dividend to the stockholders. 7. Performed $10,100 of services for cash. 8. Pald $6,100 of the accounts payable. Required a. Record...
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $31,000 from the issue of common stock 2. Performed $50,000 of services on account. 3. Incurred $6,900 of other operating expenses on account. 4. Paid $23,000 cash for salaries expense 5. Collected $35,500 of accounts receivable. 6. Paid a $3,200 dividend to the stockholders. 7. Performed $9,700 of services for cash. 8. Paid $5,700 of the accounts payable. Required a. Record...
A: Received cash of $35,000 from the issue of common stock.
B: Performed $54,000 of services on account.
C:Incurred $7,700 of other operating expenses on account.
D:Paid $27,000 cash for salaries expense.
e: Collected $37,500 of accounts receivable.
f: Paid a $3,600 dividend to the stockholders.
G: Performed $10,100 of services for cash.
H: Paid $6,100 of the accounts payable.
The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $35,000...
The following events apply to Pearson Service Co. for 2018, its
first year of operation:
Received cash of $60,000 from the issue of common stock.
Performed $115,000 worth of services on account.
Paid $79,000 cash for salaries expense.
Purchased supplies for $17,000 on account.
Collected $93,000 of accounts receivable.
Paid $12,500 of the accounts payable.
Paid a $6,000 dividend to the stockholders.
Had $2,000 of supplies on hand at the end of the period.
Required
Record these events in general...
The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting perlod: 1. Performed $97,000 of services for clients on account. 2. Performed $54,000 of services for cash 3. Incurred $56,000 of other operating expenses on account. 4. Paid $22,000 cash to an employee for salary. 5. Collected $68,000 cash from accounts recelvable. 6. Pald $21,000 cash on accounts payable 7. Paid a $7,000 cash dividend to the stockholders 8. Accrued salaries were $4,800...
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...
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 Year 1, 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...
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