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wholder Equity During April, its first month of business,...
Project 1 2 Instructions: 4 Project 1 in eCampus requires you to record transactions, prepare the...
Project 1 2 Instructions: 4 Project 1 in eCampus requires you to record transactions, prepare the financial statements and answer questions based on these transactions. in theyellow cells, you are required to record the transactions in the accounting equation below and prepare thefinancial statements in the worksheet titled 'Statements" before entering your answers into eCampus This must beyour own work; working with others is considered academic dishonesty. Shareholder's Equity During April, its first month ofbusiness, Honest Tea, Inc. Liabilities Cosh...
On April 1, Teal Mountain Inc. began operations. The following transactions were completed during the month.
On April 1, Teal Mountain Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $22,100 cash. 2. Obtained a bank loan for $6,400 by issuing a note payable. 3. Paid $10,100 cash to buy equipment. 4. Paid $1,100 cash for April office rent. 5. Paid $1,350 for supplies. 6. Purchased S550 of advertising in the Daily Herald, on account. 7. Performed services for $16,600: cash of $1,840 was received from customers, and the balance of $14,760 was billed to customers...
Provided Below are items related to Beaver Company during the month of April. The company discovered...
Provided Below are items related to Beaver Company during the
month of April. The company discovered these items when examining
its statement from Northern Bank. For each item, indicate whether
it represents an addition or a subtraction in reconciling the
company's cash balance.
SB 4.2 A Saved Help Save & Exit Submit Check my work 4 Required information Part 4 of 5 Pana ar 0.55 Knowledge Check 01 Provided below are items related to Beaver Company during the month of...
On April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month....
On April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month. 1 2 3 4. 5. 6. 7. Issued common stock for $21,100 cash. Obtained a bank loan for $6,200 by issuing a note payable. Paid $9,700 cash to buy equipment Paid $1,100 cash for April office rent. Paid $1,300 for supplies Purchased $530 of advertising in the Daily Herald, on account. Performed services for $15,800 cash of $1,760 was received from customers, and the...
On April 1, Lily Travel Agency began operations. The following transactions were completed during the month....
On April 1, Lily Travel Agency began operations. The following transactions were completed during the month. 1. Owner invested $26,000 in the business. 2. Obtained a bank loan for $6,400 by issuing a note payable. 3. Paid $12,500 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,400 for supplies. 6. Purchased $900 of advertising in the Daily Herald, on account. 7. Performed services for $21,000: cash of $3,000 was received from customers, and the...
On April 1. Larkspur, Inc. began operations. The following transactions were completed during the month. 1....
On April 1. Larkspur, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $23,500 cash. 2. Obtained a bank loan for $6,900 by issuing a note payable. 3. Paid $10,800 cash to buy equipment 4. Paid $1,200 cash for April office rent. 5. Paid $1,400 for supplies. 6. Purchased $590 of advertising in the Daily Herald, on account. 7. Performed services for $17,600: cash of $1,960 was received from customers, and the balance...
On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 1....
On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Issued common stock for $23,500 cash. Obtained a bank loan for $6,900 by issuing a note payable. Paid $10,800 cash to buy equipment. Paid $1,200 cash for April office rent. Paid $1,400 for supplies. Purchased $590 of advertising in the Daily Herald, on account. Performed services for $17,600: cash of $1,960...
On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month.
Exercise 2-9 On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. Stockholders invested $24,000 in the business in exchange for common stock. 2. Obtained a bank loan for $7,000 by issuing a note payable. 3. Paid $11,000 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,450 for supplies. 5 Purchased $600 of advertising in the Daily Herald, on account. 7. Performed services for $18,000: cash of $2,000 was received from customers, and the...
Artec Company sells its product for $190 per unit. Its actual and budgeted sales follow. April...
Artec Company sells its product for $190 per unit. Its actual and budgeted sales follow. April (actual) May (actuan June (budgeted) July (budgeted) August (budgeted) Units 9,500 2,800 8,000 7,500 4,100 Dollars $1,805,000 532,000 1,520,000 1,425,000 779,000 All sales are on credit Recent experience shows that 24% of credit sales is collected in the month of the sale, 46% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible The...
AT Corp. opened for business on April 1st. Listed below are the transactions for AT Corp....
AT Corp. opened for business on April 1st. Listed below are the transactions for AT Corp. for the month of April: April 1 Issued common stock in exchange for $250,000 cash. April 1 Purchased office equipment for $17,500 cash. April 1 Borrowed $20,000 from Venn Bank and signed a 10% note. Interest and principal to be paid in 12 months. April 5 Paid $4,000 rent in advance for the art gallery for the next two months. April 10 Purchased art...
Project 1 2 Instructions: 4 Project 1 in eCampus requires you to record transactions, prepare the financial statements and answer questions based on these transactions. in theyellow cells, you are required to record the transactions in the accounting equation below and prepare thefinancial statements in the worksheet titled 'Statements" before entering your answers into eCampus This must beyour own work; working with others is considered academic dishonesty. Shareholder's Equity During April, its first month ofbusiness, Honest Tea, Inc. Liabilities Cosh...
Provided Below are items related to Beaver Company during the
month of April. The company discovered these items when examining
its statement from Northern Bank. For each item, indicate whether
it represents an addition or a subtraction in reconciling the
company's cash balance.
SB 4.2 A Saved Help Save & Exit Submit Check my work 4 Required information Part 4 of 5 Pana ar 0.55 Knowledge Check 01 Provided below are items related to Beaver Company during the month of...
On April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month. 1 2 3 4. 5. 6. 7. Issued common stock for $21,100 cash. Obtained a bank loan for $6,200 by issuing a note payable. Paid $9,700 cash to buy equipment Paid $1,100 cash for April office rent. Paid $1,300 for supplies Purchased $530 of advertising in the Daily Herald, on account. Performed services for $15,800 cash of $1,760 was received from customers, and the...
On April 1. Larkspur, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $23,500 cash. 2. Obtained a bank loan for $6,900 by issuing a note payable. 3. Paid $10,800 cash to buy equipment 4. Paid $1,200 cash for April office rent. 5. Paid $1,400 for supplies. 6. Purchased $590 of advertising in the Daily Herald, on account. 7. Performed services for $17,600: cash of $1,960 was received from customers, and the balance...
On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Issued common stock for $23,500 cash. Obtained a bank loan for $6,900 by issuing a note payable. Paid $10,800 cash to buy equipment. Paid $1,200 cash for April office rent. Paid $1,400 for supplies. Purchased $590 of advertising in the Daily Herald, on account. Performed services for $17,600: cash of $1,960...
Artec Company sells its product for $190 per unit. Its actual and budgeted sales follow. April (actual) May (actuan June (budgeted) July (budgeted) August (budgeted) Units 9,500 2,800 8,000 7,500 4,100 Dollars $1,805,000 532,000 1,520,000 1,425,000 779,000 All sales are on credit Recent experience shows that 24% of credit sales is collected in the month of the sale, 46% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible The...
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