Answers
Cash | Accounts receivables | Accounts Payable | Common Stock | Dividends | Revenues | Expenses | |
a | $7,400 | $7,400 | |||||
b | $5,900 | $5,900 | |||||
Bal | $7,400 | $5,900 | $0 | $0 | $0 | $13,300 | $0 |
c | ($2,350) | $2,350 | |||||
Bal | $5,050 | $5,900 | $0 | $0 | $0 | $13,300 | $2,350 |
d | $2,950 | ($2,950) | |||||
Bal | $8,000 | $2,950 | $0 | $0 | $0 | $13,300 | $2,350 |
e | ($1,080) | $1,080 | |||||
Bal | $6,920 | $2,950 | $0 | $0 | $0 | $13,300 | $3,430 |
Qs 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions...
QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company. eBook a. The company completed consulting work for a client and immediately collected $7,500 cash earned. b. The company completed commission work for a client and sent a bill for $6,000 to be received within 30 days. c. The company paid an assistant $2.400 cash as wages for the period. d. The company collected $3,000 cash as a partial...
The following transactions were completed by the company a. The company completed consulting work for a client and immediately collected $7400 cash earned b. The company completed commission work for a client and sent a bill for $5,900 to be received within 30 days. c. The company paid an assistant $2,350 cash as wages for the period. d. The company collected $2,950 cash as a partial payment for the amount owed by the client in transaction b. e. The company...
Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. Durin Ming Chen (the owner) completed these transactions. a Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment...
The following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $7,200 cash earned. b. The company completed commission work for a client and sent a bill for $5,700 to be received within 30 days. c. The company paid an assistant $2,250 cash as wages for the period. d. The company collected $2,850 cash as a partial payment for the amount owed by the client in transaction b. e. The company...
Exercise 1-15 (Algo) Identifying effects of transactions using the accounting equation LO P1 Ming Chen started a business and had the following transactions in June. Owner invested $68,000 cash in the company along with $29,000 of equipment in exchange for its common stock. The company paid $2,100 cash for rent of office space for the month. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). The company completed work for a client and immediately collected...
-10 PM Mon Jan 21 Done Ch. 1- Need-to-Know Videos Help Save & Ext Submit QS 1-10 ldentifying effects of transactions using accounting equation-Revenues and Expenses LO P1 10 The following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $5,500 cash eamed b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days c. The company paid an assistant $1,400...
Check my work QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company. a. The owner invested $15,600 cash in the company in exchange for its common stock. b. The company purchased supplies for $650 cash. c. The owner invested $10,300 of equipment in the company in exchange for more common stock d. The company purchased $230 of additional supplies on credit. e. The company purchased land for $9,300...
The following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $6.200 cash earned. b. The company completed commission work for a client and sent a bill for $4,700 to be received within 30 days. c. The company paid an assistant $1,750 cash as wages for the period. d. The company collected $2,350 cash as a partial payment for the amount owed by the client in transaction b. e. The company...
The following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $5,500 cash earned b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days C. The company paid an assistant $1,400 cash as wages for the period. d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b. e. The company...
QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company. a. The owner (Alex Carr) invested $15,000 cash in the company. b. The company purchased supplies for $500 cash. C. The owner (Alex Carr) invested $10,000 of equipment in the company d. The company purchased $200 of additional supplies on credit. e. The company purchased land for $9,000 cash