Homework Answers
| Solution: | |||
| Mijavec's Catering | |||
| Statement of Owner's Equity | |||
| For the year Ended March 31, 2019 | |||
| Mark Mijavec , Capital April 1, 2018 | $ 7,400 | ||
| Add: Contribution of the year | $ 5,700 | ||
| Less: Net Loss of the year | $ -3,200 | ||
| Less: Withdrawals of the year | $ -900 | ||
| Increase in owner's Equity | $ 1,600 | ||
| Mark Mijavec , Capital March 31, 2019 | $ 9,000 | ||
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6. Mijavec's Catering suffered a net loss of $3,200 during 2020. The company had beginning capital...
5. During its first year of operations, beginning August 1, 2017, Seasons Global Inc. had contributions...
5. During its first year of operations, beginning August 1, 2017, Seasons Global Inc. had contributions of $14,700 from its owner, Mike Jones. The company's net income was $2,300, and Mike made a withdrawal of $1,750. Prepare the statement of owner's equity if the company has a calendar year-end. $ 0 Lazy Day Chairs Statement of Owner's Equity For the Five Months Ended December 31, 2015 Mike Milton, capital, August 1, 2015 Investment on August 1, 2045 $14,700 Net income...
1. On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was...
1. On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was $150,000. During March, he withdrew $31,000 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows: Accounts payable Accounts receivable Cash Fees earned Insurance expense Land Miscellaneous expense Prepaid insurance Rent expense Salary expense Supplies Supplies expense Utilities expense $ 10,250 45,950 19,390 60,500 1,275 85,400 1,210 3,000 9,000 20,300 900 525 2,800 al SEE NEXT PAGE Cook's...
On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was $150,000....
On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was $150,000. During March, he withdrew $31,000 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows Accounts payable Accounts receivable Cash Fees earned Insurance expense Land Miscellaneous expense Prepaid insurance Rent expense Salary expense Supplies Supplies expense Utilities expense s 10,250 45,950 19,390 60,500 1,275 85,400 1,210 3,000 9,000 20,300 900 525 2,800 Present, in good form, (a) an...
For Ivanhoe Co., beginning capital balances on January 1, 2020, are Nancy Payne $23,800 and Ann...
For Ivanhoe Co., beginning capital balances on January 1, 2020, are Nancy Payne $23,800 and Ann Dody $22,200. During the year, drawings were Payne $8,200 and Dody $4,000. Net income was $33,800, and the partners share income equally. Prepare the partners’ capital statement for the year. (List items that increase partners' capital first.) IVANHOE CO. Partners’ Capital Statement choose the accounting period ...
Olivia's Apple Orchard had the following transactions during the month of September, the first month in...
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Part 4: Interest Calculations Healthy Farms borrowed $83,500 on March 31, 2020. The loan had a...
Part 4: Interest Calculations Healthy Farms borrowed $83,500 on March 31, 2020. The loan had a 7% interest rate and is due on March 31, 2021. (round to the nearest dollar) 1. Calculate the interest incurred by Healthy Farms during 2020. Where will this appear in the financial statements for the year ended December 31, 2020? 2. How much interest will Healthy Farms incur in 2021? 3. How much will Healthy Farms pay the bank on March 31, 2021? How...
The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed...
The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,300 76,300 11,199 11, 100 8,300 5,109 3,200 9,000 1,500 7,500 107,500 107,500 2,150 11,180 11,100 107,180 107,100 6,300 6,300 117,100 117,109 5,100 5,180 1,500 1,500 2,150 2,150 15,900 15,900 980 900 235,300...
please show your work in detail this question has more than 1 part 6 of 20 (12 complete) H...
please show your work in detail
this question has more than 1 part
6 of 20 (12 complete) HYV Score: 35.30% 102 S5-11 (similar to) Caroine Communications reported the folowing figures trom its adjusted trial batance and trom its muti-step income statement for its ferst year of bunness, which ended on July 31, 2018 EFE (Clack the icon to view the accounts and balances) (Cack the kcon to vew the muti step income statement ) Read the requrements Requirement 1...
1. During October, the company had several transactions. Prepare journal entries for the transactions below and...
1. During October, the company had several transactions. Prepare journal entries for the transactions below and post them to the t-accounts. a. Sold merchandise with an original cost of $73,000 on account for a total selling price of $170,000 DR Accounts Receivable CR Revenue 170,000 170,000 DR COGS CR Inventory 73,000 73,000 I b. Purchased merchandise inventory on account from various suppliers for $92,600. DR Inventory CR Accounts Payable 92,600 92,600 c. Paid rent of $23,500 for the month of...
answer all 19. Peter Jones organized a corporation to provide transportation services. The company. 16., began...
answer all
19. Peter Jones organized a corporation to provide transportation services. The company. 16., began operations immediately. Transactions during the month of March were as 40,000 shares of capital stock to Peter Jones in exchange for ade a $12,000 cash down payment and issued a note Problem 1 (17 points) In March 2019, Peter Jones organized a corpora called Jones Inc., began operations immediately. Tran follows. Mar. 2 The corporation issued 40,000 shares of capital stock to Peter $60,000...
5. During its first year of operations, beginning August 1, 2017, Seasons Global Inc. had contributions of $14,700 from its owner, Mike Jones. The company's net income was $2,300, and Mike made a withdrawal of $1,750. Prepare the statement of owner's equity if the company has a calendar year-end. $ 0 Lazy Day Chairs Statement of Owner's Equity For the Five Months Ended December 31, 2015 Mike Milton, capital, August 1, 2015 Investment on August 1, 2045 $14,700 Net income...
1. On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was $150,000. During March, he withdrew $31,000 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows: Accounts payable Accounts receivable Cash Fees earned Insurance expense Land Miscellaneous expense Prepaid insurance Rent expense Salary expense Supplies Supplies expense Utilities expense $ 10,250 45,950 19,390 60,500 1,275 85,400 1,210 3,000 9,000 20,300 900 525 2,800 al SEE NEXT PAGE Cook's...
On March 1, 2009, the amount of Norton Cook's capital in Cook's Catering Company was $150,000. During March, he withdrew $31,000 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows Accounts payable Accounts receivable Cash Fees earned Insurance expense Land Miscellaneous expense Prepaid insurance Rent expense Salary expense Supplies Supplies expense Utilities expense s 10,250 45,950 19,390 60,500 1,275 85,400 1,210 3,000 9,000 20,300 900 525 2,800 Present, in good form, (a) an...
Olivia's Apple Orchard had the following transactions during the month of September, the first month in business. Complete the chart to determine the ending balances. As an example, the first transaction has been completed. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Owner's Transaction Amount Liability Equity Amount owed for land purchase $52,000 $52,000 $52,000 $0 Apple sales: cash 3,200...
Part 4: Interest Calculations Healthy Farms borrowed $83,500 on March 31, 2020. The loan had a 7% interest rate and is due on March 31, 2021. (round to the nearest dollar) 1. Calculate the interest incurred by Healthy Farms during 2020. Where will this appear in the financial statements for the year ended December 31, 2020? 2. How much interest will Healthy Farms incur in 2021? 3. How much will Healthy Farms pay the bank on March 31, 2021? How...
The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. Income Statement Debit Credit CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 76,300 76,300 11,199 11, 100 8,300 5,109 3,200 9,000 1,500 7,500 107,500 107,500 2,150 11,180 11,100 107,180 107,100 6,300 6,300 117,100 117,109 5,100 5,180 1,500 1,500 2,150 2,150 15,900 15,900 980 900 235,300...
please show your work in detail
this question has more than 1 part
6 of 20 (12 complete) HYV Score: 35.30% 102 S5-11 (similar to) Caroine Communications reported the folowing figures trom its adjusted trial batance and trom its muti-step income statement for its ferst year of bunness, which ended on July 31, 2018 EFE (Clack the icon to view the accounts and balances) (Cack the kcon to vew the muti step income statement ) Read the requrements Requirement 1...
1. During October, the company had several transactions. Prepare journal entries for the transactions below and post them to the t-accounts. a. Sold merchandise with an original cost of $73,000 on account for a total selling price of $170,000 DR Accounts Receivable CR Revenue 170,000 170,000 DR COGS CR Inventory 73,000 73,000 I b. Purchased merchandise inventory on account from various suppliers for $92,600. DR Inventory CR Accounts Payable 92,600 92,600 c. Paid rent of $23,500 for the month of...
answer all
19. Peter Jones organized a corporation to provide transportation services. The company. 16., began operations immediately. Transactions during the month of March were as 40,000 shares of capital stock to Peter Jones in exchange for ade a $12,000 cash down payment and issued a note Problem 1 (17 points) In March 2019, Peter Jones organized a corpora called Jones Inc., began operations immediately. Tran follows. Mar. 2 The corporation issued 40,000 shares of capital stock to Peter $60,000...
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