Homework Answers
| Cash | Notes Receivables | |||||||
| Beg. Bal. | 0 | Beg. Bal. | 0 | |||||
| Common Stock | $ 71,000 | $ 2,600 | Investor | |||||
| Common Stock | $ 3,100 | $ 4,750 | Equipment ($19,000 / 4) | |||||
| End. Bal. | $ 69,350 | End. Bal. | $ 2,600 | |||||
| Equipment | Land | |||||||
| Beg. Bal. | 0 | Beg. Bal. | ||||||
| Cash | $ 4,750 | Common Stock | $ 16,000 | |||||
| Notes Payable ($19,000 - $4,750) | $ 14,250 | |||||||
| End. Bal. | $ 19,000 | End. Bal. | $ 16,000 | |||||
| Notes Payable | Common stock | |||||||
| Beg. Bal. | 0 | Beg. Bal. | 0 | |||||
| $ 14,250 | Equipment | $ 10,200 | Cash (6 X 8500 X $0.20) | |||||
| $ 220 | Cash and land (1100 X $0.20) | |||||||
| End. Bal. | $ 14,250 | End. Bal. | $ 10,420 | |||||
| Additional Paid - in - Capital | ||||||||
| Beg. Bal. | 0 | |||||||
| $ 60,800 | Cash 9$71,000 - $10,200) | |||||||
| $ 18,880 | Cash and land ($3100 + $16000 - $220) | |||||||
| End. Bal. | $ 79,680 | |||||||
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[The following information applies to the questions displayed below. Granger Service Company, Inc., was organized by...
Required information [The following information applies to the questions displayed below.) Granger Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.) Granger Service Company, Inc., was organized by Ted Granger and five other investors. The following activities occurred during the year: a. Received $77,000 total cash from the six investors;leach investor was issued 9,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $25,000; one-fourth was paid in cash and the company signed a note...
Griffin Service Company INC 0 Required information (The following information applies to the questions displayed below.)...
Griffin Service Company INC
0 Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth was paid in cash and...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $70,000 cash from the six investors; each investor was issued 8,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $18,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $87,000 cash from the six investors; each investor was issued 10,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $35,000; one-fourth was paid in cash and the company signed a note...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $81,000 cash from the six investors; each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $29,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc.,...
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $89,000 cash from the six investors, each investor was issued 10,300 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $37,000; one-fourth was paid in cash and the company signed a...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement...
Required information [The following information applies to the questions displayed below.) Mulkeen Service Company, Inc., was...
Required information [The following information applies to the questions displayed below.) Mulkeen Service Company, Inc., was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year. a. Received $70,000 cash from the managers, each was issued 2,000 shares of common stock b. Purchased equipment for use in the business at a cost of $15,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c Signed an...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth...
Required information [The following information applies to the questions displayed below.) Granger Service Company, Inc., was organized by Ted Granger and five other investors. The following activities occurred during the year: a. Received $77,000 total cash from the six investors;leach investor was issued 9,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $25,000; one-fourth was paid in cash and the company signed a note...
Griffin Service Company INC
0 Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth was paid in cash and...
Required information [The following information applies to the questions displayed below. Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $70,000 cash from the six investors; each investor was issued 8,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $18,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $87,000 cash from the six investors; each investor was issued 10,100 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $35,000; one-fourth was paid in cash and the company signed a note...
Required information (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $81,000 cash from the six investors; each investor was issued 9,500 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $29,000; one-fourth was paid in cash and the company signed a note...
Required information [The following information applies to the questions displayed below.) 2 Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $89,000 cash from the six investors, each investor was issued 10,300 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $37,000; one-fourth was paid in cash and the company signed a...
Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per share. b. Purchased equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement...
Required information [The following information applies to the questions displayed below.) Mulkeen Service Company, Inc., was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year. a. Received $70,000 cash from the managers, each was issued 2,000 shares of common stock b. Purchased equipment for use in the business at a cost of $15,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c Signed an...
Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $86,000 cash from the six investors; each investor was issued 10,000 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $34,000; one-fourth...
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