Homework Answers
| Assets | = | Liab. | + | Equity | Rev | - | Exp. | = | Net Inc. | Cash Flow | |||||
| Date | Cash | + | Notes Rec | + | Int. Rec. | = | Ret. Earn. | ||||||||
| Sept 1, 2014 | $ -30,000.00 | $ 30,000.00 | $ -30,000.00 | ||||||||||||
| Dec 31, 2014 | $ 600.00 | $ 600.00 | $ 600.00 | $ - | $ 600.00 | ||||||||||
| Sept 1, 2015 | $ 31,800.00 | $ -30,000.00 | $ -600.00 | $ 1,200.00 | $ 1,200.00 | $ - | $ 1,200.00 | $ 31,800.00 | |||||||
| Total | $ 1,800.00 | $ - | $ - | $ - | $1,800.00 | $1,800.00 | $ - | $1,800.00 | $ 1,800.00 | ||||||
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LO 5-4 Exercise 5-11 Accounting for notes receivable Poole Enterprises loaned $30,000 to Boyd Co. on...
i need help finishing the chart Exercise 5-11 Accounting for notes receivable LO 5-4 Rainey Enterprises...
i need help finishing the chart
Exercise 5-11 Accounting for notes receivable LO 5-4 Rainey Enterprises loaned $30,000 to Small Co, on June 1, 2018, for one year at 5 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). The letters NA indicate that an element is not affected by the event....
Rainey Enterprises loaned $30,000 to Small Co. on June 1, 2018, for one year at 6...
Rainey Enterprises loaned $30,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to...
Accounting for notes receivable and uncollectible accounts using the percent of sales allowance method. The following...
Accounting for notes receivable and uncollectible accounts using
the percent of sales allowance method. The following transactions
apply to Hooper Co. for 2018, its first year of operations:
1. Issued $60,000 of common stock for cash.
2. Provided $90,000 of services on account.
3. Collected $78,000 cash from accounts
receivable.
4. Loaned $20,000 to Mosby Co. on November 30,
2018. The note had a one-year term to maturity and a 6 percent
interest rate.
5. Paid $26,000 of salaries expense...
LO 5-4 Exercise 5-12 Notes receivable-accrued interest On March 1, 2014, Peppers Deli loaned $18,000 to...
LO 5-4 Exercise 5-12 Notes receivable-accrued interest On March 1, 2014, Peppers Deli loaned $18,000 to Simms Supply for one year at 5 percent interest. Required Answer the following questions a. What is Peppers interest income for 2014? b. What is Peppers total amount of receivables at December 31, 2014? c. What amounts will be reported on Peppers 2014 statement of cash flows? d. What is Peppers interest income for 2015? e. What is the total amount of cash that...
Rainey Enterprises loaned $45,000 to Small Co. on June 1, 2018, for one year at 7...
Rainey Enterprises loaned $45,000 to Small Co. on June 1, 2018, for one year at 7 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round Intermediate calculations. Enter any decreases to account balances...
Rainey Enterprises loaned $35,000 to Small Co, on June 1, 2018, for one year at 6...
Rainey Enterprises loaned $35,000 to Small Co, on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round Intermediate calculations. Enter any decreases to...
Rainey Enterprises loaned $40,000 to Small Co. on June 1, 2018, for one year at 6...
Rainey Enterprises loaned $40,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to...
Please correct the incorrect answers Rainey Enterprises loaned $45,000 to Small Co. on June 1, 2018,...
Please correct the incorrect answers
Rainey Enterprises loaned $45,000 to Small Co. on June 1, 2018, for one year at 7 percent Interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round Intermediate...
thank you! Rainey Enterprises loaned $25,000 to Small Co. on June 1. 2018, for one year...
thank you!
Rainey Enterprises loaned $25,000 to Small Co. on June 1. 2018, for one year at 6 percent interest Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank (Not every cell will require entry. Do not round intermediate calculations. Enter any...
Rainey Enterprises loaned $20,000 to Small Co. on June 1, Year 1, for one year at...
Rainey Enterprises loaned $20,000 to Small Co. on June 1, Year
1, for one year at 6 percent interest.
Required
Show the effects of the following transactions in a horizontal
statements. In the Statement of Cash Flows column, indicate whether
the item is an operating activity (OA), an investing activity (IA),
or a financing activity (FA). (Do not round intermediate
calculations. Enter any decreases to account balances and cash
outflows with a minus sign. Not all cells in the "Statement...
i need help finishing the chart
Exercise 5-11 Accounting for notes receivable LO 5-4 Rainey Enterprises loaned $30,000 to Small Co, on June 1, 2018, for one year at 5 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). The letters NA indicate that an element is not affected by the event....
Rainey Enterprises loaned $30,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to...
Accounting for notes receivable and uncollectible accounts using
the percent of sales allowance method. The following transactions
apply to Hooper Co. for 2018, its first year of operations:
1. Issued $60,000 of common stock for cash.
2. Provided $90,000 of services on account.
3. Collected $78,000 cash from accounts
receivable.
4. Loaned $20,000 to Mosby Co. on November 30,
2018. The note had a one-year term to maturity and a 6 percent
interest rate.
5. Paid $26,000 of salaries expense...
LO 5-4 Exercise 5-12 Notes receivable-accrued interest On March 1, 2014, Peppers Deli loaned $18,000 to Simms Supply for one year at 5 percent interest. Required Answer the following questions a. What is Peppers interest income for 2014? b. What is Peppers total amount of receivables at December 31, 2014? c. What amounts will be reported on Peppers 2014 statement of cash flows? d. What is Peppers interest income for 2015? e. What is the total amount of cash that...
Rainey Enterprises loaned $35,000 to Small Co, on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round Intermediate calculations. Enter any decreases to...
Rainey Enterprises loaned $40,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to...
Please correct the incorrect answers
Rainey Enterprises loaned $45,000 to Small Co. on June 1, 2018, for one year at 7 percent Interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round Intermediate...
thank you!
Rainey Enterprises loaned $25,000 to Small Co. on June 1. 2018, for one year at 6 percent interest Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank (Not every cell will require entry. Do not round intermediate calculations. Enter any...
Rainey Enterprises loaned $20,000 to Small Co. on June 1, Year
1, for one year at 6 percent interest.
Required
Show the effects of the following transactions in a horizontal
statements. In the Statement of Cash Flows column, indicate whether
the item is an operating activity (OA), an investing activity (IA),
or a financing activity (FA). (Do not round intermediate
calculations. Enter any decreases to account balances and cash
outflows with a minus sign. Not all cells in the "Statement...
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