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Current Attempt in Progress Transactions that affect cash do not necessarily affect net income. Identify the impact, if any, of each of the following transactions on cash and net Income. The first transaction has been completed for you as an example. (For decreases use either a negative sign preceding the number, e.3.-45 or parenthesis, e.g. (45). If an answer is zero, please enter O. Do not leave any fields blank.) Transactions Cash Profit (a) Purchased supplies for cash, $100. $100...
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BE3.2 (LO 1), C Transactions that affect net income do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. Cash Net Income $o a. Purchased $100 of supplies for cash. $100 b. Recorded an adjusting entry to record use of $20 of the above supplies. c. Made sales of $1,300, all on account. d. Received $800 from customers...
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Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).) Cash -$100 Net Income $0 a. Purchased $100 of supplies for cash. b. Recorded an adjusting entry to record use of $20 of...
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The trial balance columns of the worksheet for Carla Vista Roofing at March 31, 2020, are as follows. Carla Vista Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cash 4,700 Accounts Receivable 3,500 Supplies 2,380 Equipment 11,352 Accumulated Depreciation-Equipment 1,290 Accounts Payable 2,320 Unearned Service Revenue 690 Owner's Capital 13,922 Owner's Drawings 1,150 Service Revenue 6,300 Salaries and Wages Expense 1,110 Miscellaneous Expense 330 24,522 24,522 Other data: 1....
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Current Attempt in Progress Presented below are a number of economic events. 1. Purchased supplies on account, $220. 2. Provided a service on account. $660. 3. Paid salaries expense. $300. 4. Issued common shares in exchange for cash. 54.000. 5. Declared and paid $150 of dividends to shareholders Received cash from a customer who had previously been billed for services provided. 5660 (see item 2). 7. Paid account owed to supplier on account, 5220 (see item 1). 8. Paid for...
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Current Attempt in Progress Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (fen amount re then enter with negative sign preceding the number eg-15,000 or parentheseseg (15,000J Net Income Cash -$105 (al Purchased $105 of supplies for cash (bị Recorded an adjusting entry to record use of $25 of the above supplies....
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At Pronghorn Corp., prepaid costs are debited to expense when cash is paid and unearned revenues are credited to revenue when the cash is received. During January of the current year, the following transactions occurred. Jan. 2 Received $10,100 for services to be performed in the future. Paid $3,672 for casualty insurance protection for the year. Paid $4,650 for supplies. 10 On January 31, it is determined that $3,460 of the service revenue has been earned and that there is...
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1. Transactions made by Carla Vista Co. for the month of March are shown below. The company performed $22,060 of services for customers on account, The company received $22,060 in cash from customers who had been billed for services (in transaction (1)). The company received a bill for $2,670 of advertising but will not pay it until a later date. Carla Vista Co. paid a cash dividend of $5,920. 2. 3. 4. Prepare a tabular analysis that shows the effects...
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Question 1 of 5 -/1 E LUTEN ALLEMPUT Sess Transactions made by Carla Vista Co. for the month of March are shown below. 1 2 3. 4. The company performed $22.900 of services for customers on account. The company received $22,900 in cash from customers who had been billed for services (in transaction (1)] The company received a bill for $3,240 of advertising but will not pay it until a later date. Carla Vista Co. paid a cash dividend of...
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Question 2 On November 1, 2022, the following were the account balances of Carla Vista Equipment Repair. Cash Debit $ 3,520 3,090 1,850 10,730 Credit $ 500 3,030 Accounts Receivable Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable 400 Supplies Equipment 800 Common Stock Retained Earnings 10,730 3,730 $19,190 $19,190 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $420 is for November and...
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Current Attempt in Progress Transactions that affect cash do not necessarily affect net income. Identify the impact, if any, of each of the following transactions on cash and net Income. The first transaction has been completed for you as an example. (For decreases use either a negative sign preceding the number, e.3.-45 or parenthesis, e.g. (45). If an answer is zero, please enter O. Do not leave any fields blank.) Transactions Cash Profit (a) Purchased supplies for cash, $100. $100...
BE3.2 (LO 1), C Transactions that affect net income do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. Cash Net Income $o a. Purchased $100 of supplies for cash. $100 b. Recorded an adjusting entry to record use of $20 of the above supplies. c. Made sales of $1,300, all on account. d. Received $800 from customers...
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).) Cash -$100 Net Income $0 a. Purchased $100 of supplies for cash. b. Recorded an adjusting entry to record use of $20 of...
Do all of these please
The trial balance columns of the worksheet for Carla Vista Roofing at March 31, 2020, are as follows. Carla Vista Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cash 4,700 Accounts Receivable 3,500 Supplies 2,380 Equipment 11,352 Accumulated Depreciation-Equipment 1,290 Accounts Payable 2,320 Unearned Service Revenue 690 Owner's Capital 13,922 Owner's Drawings 1,150 Service Revenue 6,300 Salaries and Wages Expense 1,110 Miscellaneous Expense 330 24,522 24,522 Other data: 1....
Current Attempt in Progress Presented below are a number of economic events. 1. Purchased supplies on account, $220. 2. Provided a service on account. $660. 3. Paid salaries expense. $300. 4. Issued common shares in exchange for cash. 54.000. 5. Declared and paid $150 of dividends to shareholders Received cash from a customer who had previously been billed for services provided. 5660 (see item 2). 7. Paid account owed to supplier on account, 5220 (see item 1). 8. Paid for...
Current Attempt in Progress Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (fen amount re then enter with negative sign preceding the number eg-15,000 or parentheseseg (15,000J Net Income Cash -$105 (al Purchased $105 of supplies for cash (bị Recorded an adjusting entry to record use of $25 of the above supplies....
At Pronghorn Corp., prepaid costs are debited to expense when cash is paid and unearned revenues are credited to revenue when the cash is received. During January of the current year, the following transactions occurred. Jan. 2 Received $10,100 for services to be performed in the future. Paid $3,672 for casualty insurance protection for the year. Paid $4,650 for supplies. 10 On January 31, it is determined that $3,460 of the service revenue has been earned and that there is...
1. Transactions made by Carla Vista Co. for the month of March are shown below. The company performed $22,060 of services for customers on account, The company received $22,060 in cash from customers who had been billed for services (in transaction (1)). The company received a bill for $2,670 of advertising but will not pay it until a later date. Carla Vista Co. paid a cash dividend of $5,920. 2. 3. 4. Prepare a tabular analysis that shows the effects...
Question 1 of 5 -/1 E LUTEN ALLEMPUT Sess Transactions made by Carla Vista Co. for the month of March are shown below. 1 2 3. 4. The company performed $22.900 of services for customers on account. The company received $22,900 in cash from customers who had been billed for services (in transaction (1)] The company received a bill for $3,240 of advertising but will not pay it until a later date. Carla Vista Co. paid a cash dividend of...
Question 2 On November 1, 2022, the following were the account balances of Carla Vista Equipment Repair. Cash Debit $ 3,520 3,090 1,850 10,730 Credit $ 500 3,030 Accounts Receivable Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable 400 Supplies Equipment 800 Common Stock Retained Earnings 10,730 3,730 $19,190 $19,190 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $420 is for November and...