Homework Answers
Total assets = 12290
(it is assumed that auto repair expense are revenue expenditure
therfore not capitalised)
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TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office...
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of...
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses $59, 800 15, 400 34, 600 22, 300 10, ΘΘΘ 90, 300 55, ΘΘΘ 23,200 TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a mission Accounts Receivable Office Furniture Liabilities About Payable Joseph Beginning Balances New Balances New Balance New Balances TETTE + + + NORR + + + + New Balances < P 40 Net > Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses 560,200 15,800 35,880 22,780 10,400 90,780 56,200 23, 680 TRANSACTIONS 1. Performed services for $6,600 on credit. 2. Paid $1,620 in cash for new office chairs. 3. Received $10.400 in cash from credit clients. 4....
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3...
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture Auto Accounts payable Carter Wilson, Capital Revenue Expenses $144,000 37,000 85,000 55, eee 30,6ee 214, see 131,600 55,700 TRANSACTIONS 1. Performed services for $14,400 on credit 2. Paid $3,640 in...
2. Performed legal services for cash of $64,500 3. Purchased $1.400 of office supplies on account....
2. Performed legal services for cash of $64,500 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 $4,400 6. Paid cash for operating expenses of $21,700. 7. Determined that at the end of the accounting period $145 of office supplies remained on hand. 8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $157,000 in cash...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $157,000 in cash to start the business. b. Paid $5,700 for the current month's rent. c. Bought office furniture for $16,420 in cash. A. Performed services for $7,900 in cash. e. Paid $1,220 for the monthly telephone bill. f. Performed services for $13,700 on credit. g. Purchased a computer and copier for $37,400, paid $12,700 in cash immediately with the balance due in 30 days. h. Received...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment for $20,000 on credit. 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11,400 to a creditor on account. 1. John Amos started the business with a cash investment of $56,000 2. Purchased equipment...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $143,000 in cash...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $143,000 in cash to start the business. b. Paid $4,300 for the current month's rent. c. Bought office furniture for $15,020 in cash. d. Performed services for $8,900 in cash. e. Paid $1,080 for the monthly telephone bill. f. Performed services for $14.700 on credit. g. Purchased a computer and copier for $34,600, paid $11,300 in cash immediately with the balance due in 30 days. h. Received...
"Using T accounts to record all business transactions." 3.4A. The following accounts and transactions are for...
"Using T accounts to record all business transactions." 3.4A. The following accounts and transactions are for Horace Brock, Landscape Consultant. Analyze the transactions. Record each in the appropriate T accounts. Use plus and minus signs in front of the amounts to show the increases and decreases. Identify each entry in the T accounts. By writing the letter of the transaction next to the entry. Assets: Cash, Accounts Receivable, Office Furniture, Office Equipment Liabilities: Accounts Payable Owner’s Equity: Horace Brock –...
On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential...
On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings. TRANSACTIONS 1. The owner invested $95,500 in cash to begin the business 2. Paid $19,450 in cash for the purchase of equipment. 3. Purchased additional equipment for $13,800 on credit 4. Paid $11,500 in cash to creditors. 5. The owner made an additional investment of $28,500 in cash. 6. Performed services for $7,900 in cash. 7....
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses $59, 800 15, 400 34, 600 22, 300 10, ΘΘΘ 90, 300 55, ΘΘΘ 23,200 TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a mission Accounts Receivable Office Furniture Liabilities About Payable Joseph Beginning Balances New Balances New Balance New Balances TETTE + + + NORR + + + + New Balances < P 40 Net > Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses 560,200 15,800 35,880 22,780 10,400 90,780 56,200 23, 680 TRANSACTIONS 1. Performed services for $6,600 on credit. 2. Paid $1,620 in cash for new office chairs. 3. Received $10.400 in cash from credit clients. 4....
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture Auto Accounts payable Carter Wilson, Capital Revenue Expenses $144,000 37,000 85,000 55, eee 30,6ee 214, see 131,600 55,700 TRANSACTIONS 1. Performed services for $14,400 on credit 2. Paid $3,640 in...
2. Performed legal services for cash of $64,500 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 $4,400 6. Paid cash for operating expenses of $21,700. 7. Determined that at the end of the accounting period $145 of office supplies remained on hand. 8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $157,000 in cash to start the business. b. Paid $5,700 for the current month's rent. c. Bought office furniture for $16,420 in cash. A. Performed services for $7,900 in cash. e. Paid $1,220 for the monthly telephone bill. f. Performed services for $13,700 on credit. g. Purchased a computer and copier for $37,400, paid $12,700 in cash immediately with the balance due in 30 days. h. Received...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment for $20,000 on credit. 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11,400 to a creditor on account. 1. John Amos started the business with a cash investment of $56,000 2. Purchased equipment...
The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $143,000 in cash to start the business. b. Paid $4,300 for the current month's rent. c. Bought office furniture for $15,020 in cash. d. Performed services for $8,900 in cash. e. Paid $1,080 for the monthly telephone bill. f. Performed services for $14.700 on credit. g. Purchased a computer and copier for $34,600, paid $11,300 in cash immediately with the balance due in 30 days. h. Received...
On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings. TRANSACTIONS 1. The owner invested $95,500 in cash to begin the business 2. Paid $19,450 in cash for the purchase of equipment. 3. Purchased additional equipment for $13,800 on credit 4. Paid $11,500 in cash to creditors. 5. The owner made an additional investment of $28,500 in cash. 6. Performed services for $7,900 in cash. 7....
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