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Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity Accounts Payable Assets $ 7,500 $35,000 9,000 Cash points Accounts Receivable Common Stock 40,000 47,500 Retained Earnings 51,000 Land $95,000 $95,000 Total Total The following accounting events apply to Waddell Company's Year 2 fiscal year: 1 Acquired $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for office space. 1 Paid a...
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Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts Receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Feb. Mar. Apr. May July Sept. Oct. ced $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for...
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Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity 2 Assets 45,e00 Accounts Payable 43,80 Common Stock 31,000 Retained Earnings Accounts Receivable $119,80 Total $119,00e The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $40,000 cash from the issue of common stock Feb. 1 Paid $5,400 cash in advance for a one-year lease for office space Mar. 1 Paid a $1,900 cash dividend to...
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Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $35,000 9,000 51,000 $95,000 Land $ 7,500 40,000 47,500 $95,000 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Mar. 1 Paid a $2,000 cash dividend to the stockholders. April 1 Purchased additional land...
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Waddell Company had the following balances in its accounting
records as of December 31, Year 1:
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common...
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The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $52,000 cash from the issue of common stock. Feb. 1 Paid $5,400 cash in advance for a one-year lease for office space. Mar. 1 Paid a $1,800 cash dividend to the stockholders. Apr. 1 Purchased additional land that cost $31,000 cash. May 1 Made a cash payment on accounts payable of $21,000. July 1 Received $8,800 cash in advance as a retainer for services to...
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Simpson Company had the following balances in its accounting records as of December 31, Yeart Assets Cash Accounts Receivable Land Total $ 40,000 9,000 51,000 $100,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 45,000 47,500 $100,000 The following accounting events apply to Simpson Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Feb. 1 Paid $6,000 cash in advance for a one-year lease for office space. Mar. 1...
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Please use the accounting equation for this (Horizontal
Financial Statement Model)
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Mar. 1 Paid a...
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Assets Cash Accounts Receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 40,000 47,500 $ 95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. Feb. Mar. Apr. May July Sept. Oct. Dec. 1 Acquired $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for office space. 1 Paid a $2,000 cash dividend to the stockholders. 1...
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The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 1. Inventory that had cost $24,000 was sold for $45,600 under terms 2/20, net/30. 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,500. The merchandise had cost Ozark $1,000. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $4,560. 5. Interest expense paid amounted to $350....
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity Accounts Payable Assets $ 7,500 $35,000 9,000 Cash points Accounts Receivable Common Stock 40,000 47,500 Retained Earnings 51,000 Land $95,000 $95,000 Total Total The following accounting events apply to Waddell Company's Year 2 fiscal year: 1 Acquired $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for office space. 1 Paid a...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts Receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Feb. Mar. Apr. May July Sept. Oct. ced $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity 2 Assets 45,e00 Accounts Payable 43,80 Common Stock 31,000 Retained Earnings Accounts Receivable $119,80 Total $119,00e The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $40,000 cash from the issue of common stock Feb. 1 Paid $5,400 cash in advance for a one-year lease for office space Mar. 1 Paid a $1,900 cash dividend to...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $35,000 9,000 51,000 $95,000 Land $ 7,500 40,000 47,500 $95,000 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Mar. 1 Paid a $2,000 cash dividend to the stockholders. April 1 Purchased additional land...
Waddell Company had the following balances in its accounting
records as of December 31, Year 1:
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common...
The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $52,000 cash from the issue of common stock. Feb. 1 Paid $5,400 cash in advance for a one-year lease for office space. Mar. 1 Paid a $1,800 cash dividend to the stockholders. Apr. 1 Purchased additional land that cost $31,000 cash. May 1 Made a cash payment on accounts payable of $21,000. July 1 Received $8,800 cash in advance as a retainer for services to...
Simpson Company had the following balances in its accounting records as of December 31, Yeart Assets Cash Accounts Receivable Land Total $ 40,000 9,000 51,000 $100,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 45,000 47,500 $100,000 The following accounting events apply to Simpson Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Feb. 1 Paid $6,000 cash in advance for a one-year lease for office space. Mar. 1...
Please use the accounting equation for this (Horizontal
Financial Statement Model)
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Stk. Equity Accounts payable Common stock Retained earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $20,000 cash from the issue of common stock. Mar. 1 Paid a...
Assets Cash Accounts Receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 40,000 47,500 $ 95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. Feb. Mar. Apr. May July Sept. Oct. Dec. 1 Acquired $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for office space. 1 Paid a $2,000 cash dividend to the stockholders. 1...
The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 1. Inventory that had cost $24,000 was sold for $45,600 under terms 2/20, net/30. 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,500. The merchandise had cost Ozark $1,000. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $4,560. 5. Interest expense paid amounted to $350....