HART ATTORNEY AT LAW | ||||||||||||||||
Effect of Transactions on the Financial Statements for 2018 | ||||||||||||||||
Assets | = | Liabilities | + | Stockholders' Equity | Income Statement | |||||||||||
Event | Cash | + | Supplies | = | Accounts Payable | + | Unearned Revenue | + | Retained Earnings | Revenue | - | Expense | = | Net Income | Statement of Cash Flows | |
1 | 17800 | + | = | + | 17800 | + | - | = | 17800 | OA | ||||||
2 | 64500 | + | = | + | + | 64500 | 64500 | - | = | 64500 | 64500 | OA | ||||
3 | + | 1400 | = | 1400 | + | + | - | = | ||||||||
4 | -1260 | + | = | -1260 | + | + | - | = | -1260 | OA | ||||||
5 | -4400 | + | = | + | + | -4400 | - | = | -4400 | FA | ||||||
6 | -21700 | + | = | + | + | -21700 | - | 21700 | = | -21700 | -21700 | OA | ||||
7 | + | -1255 | = | + | + | -1255 | - | 1255 | = | -1255 | ||||||
8 | + | = | + | -13350 | + | 13350 | 13350 | - | = | 13350 | ||||||
Total | 54940 | + | 145 | = | 140 | + | 4450 | + | 50495 | 77850 | - | 22955 | = | 54895 | 54940 | NC |
2. Performed legal services for cash of $64,500 3. Purchased $1.400 of office supplies on account....
Seved Chapter 2 Quiz Hart. Attorney at Law, experienced the following transactions in 2018, the first year of operations 1 1. Accepted $15.500 on April 1. 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $66,000. 3. Purchased $1,100 of office supplies on account. 4. Paid $990 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,600. 6. Paid cash...
Supplies, unearned revenue, and the financial statements model Hart, Attorney at Law, experienced the following transactions in 2018, the first year of operations: 1. Accepted $36,000 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $54,000. 3. Purchased $2,800 of office supplies on account. 4. Paid $2,400 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000....
no Attorney at Low, experienced the Tonowing uransactions in 2016, the rst year UI per un 1. Accepted $15,200 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $61,500. 3. Purchased $1,000 of office supplies on account. 4. Paid $900 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,000. 6. Paid cash for operating expenses of...
Hart, Attorney af Law, experienced the following transactions in year 1, the first year of operations: 1. Accepted $18,200 on April 1, year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $61,500. 3. Purchased $1,400 of office supplies on account. 4. Paid $1,260 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,900. 6. Paid cash for operating expenses...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $36,000 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $54,000. 3. Purchased $2,800 of office supplies on account 4. Paid $2,400 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000. 6. Paid cash for operating expenses...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: Accepted $16,900 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. Performed legal services for cash of $69,500. Purchased $1,450 of office supplies on account. Paid $1,305 of the amount due on accounts payable. Paid a cash dividend to the stockholders of $5,500. Paid cash for operating expenses of $19,800. Determined that at the...
Hart, Attorney at Law, experienced the following transactions in 2016, the first year of operatore 1. Accepted $38,000 on Apr 1, 2016, as a retainer for services to be performed everly over the rest 12 2. Performed legal services for cash of $54.000 3. Purchased $2.800 of office supplies on account 4. Paid $2.400 of the amount due on accounts payable 5. Paid a cash dividend to the stockholders of $5.000 6. Paid cash for operating expenses of $31,000 7....
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $16,700 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months 2. Performed legal services for cash of $69.000 3. Purchased $1.500 of office supplies on account 4. Paid $1,350 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $4,500 6. Paid cash for operating expenses...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: Accepted $36,000 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. Performed legal services for cash of $54,000. Purchased $2,800 of office supplies on account. Paid $2,400 of the amount due on accounts payable. Paid a cash dividend to the stockholders of $5,000. Paid cash for operating expenses of $31,000. Determined that at the...
1. Performed $104,500 of services for clients on account. 2. Performed $57,000 of services for cash. 3. Incurred $62,000 of other operating expenses on account 4. Paid $23,500 cash to an employee for salary. 5. Collected $71,000 cash from accounts receivable. 6. Paid $26,000 cash on accounts payable. 7. Paid a $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5,400 at the end of Year 1. Required a. Show the effects of the events on the financial statements...