Homework Answers
| a) | Land | 36,000 | ||||
| b) | Net cash from operating activities | 44,100 | ||||
| c) | Rent expense | 5,500 | ||||
| d) | Total Liabilites | 8,500 | (7500-5500+6500) | |||
| e) | Supplies expense | 2,450 | ||||
| f) | Unearned revenue | 1,15,200 | (9600*12) | |||
| g) | Net cash from investing activities | 15,000 | ||||
| h) | Total Expense | 40,500 | (6000+28000+6500) | |||
| i) | Service Revenue | 1,73,200 | (58000+115200) | |||
| j) | Cash from financing activities | 18,000 | ||||
| k) | net income | 1,32,700 | (-6000+115200+58000-28000-6500) | |||
| l) | Retained earning | 45,500 | (47500-2000) | |||
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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:...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity Assets Cash Accounts Receivable 47,800 Common Stock Land Total 51,00 Accounts Payable 24,80e 88,80e -19,eee $131,00e ー33,000 Retained Earnings $131,00 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: Dan. 1 Acquired $54,e8e cash from the issue of common stock Feb. 1 Paid $5,1e0 cash in advance for a one-year lease for office space Mar. 1 Paid...
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: 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:...
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 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:...
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...
Simpson Company had the following balances in its accounting records as of December 31, Yeart Assets...
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...
The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $52,000...
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...
Please use the accounting equation for this (Horizontal Financial Statement Model) Waddell Company had the following...
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...
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 accounts and balances were drawn from the records of Barker Company at December 31,...
The following accounts and balances were drawn from the records of Barker Company at December 31, 2018: $ Supplies Cash flow from investing act. Prepaid insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued 740 Beginning retained earnings (6,400) Cash flow from financing act. 2,500 Rent expense 80,000 Dividends 43,000 Cash 280 Accounts receivable 1,200 Prepaid rent 800 Unearned revenue 7,600 Land 5,600 Accounts payable $ 19,000 (5,300)...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity Assets Cash Accounts Receivable 47,800 Common Stock Land Total 51,00 Accounts Payable 24,80e 88,80e -19,eee $131,00e ー33,000 Retained Earnings $131,00 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: Dan. 1 Acquired $54,e8e cash from the issue of common stock Feb. 1 Paid $5,1e0 cash in advance for a one-year lease for office space Mar. 1 Paid...
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: 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:
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...
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...
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...
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 accounts and balances were drawn from the records of Barker Company at December 31, 2018: $ Supplies Cash flow from investing act. Prepaid insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued 740 Beginning retained earnings (6,400) Cash flow from financing act. 2,500 Rent expense 80,000 Dividends 43,000 Cash 280 Accounts receivable 1,200 Prepaid rent 800 Unearned revenue 7,600 Land 5,600 Accounts payable $ 19,000 (5,300)...
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