Business, 24.09.2020 08:01 bullockarwen

During 2017, its first year of operations as a delivery service, Concord Corporation entered into the following transactions: 1. Issued shares of common stock to investors in exchange for $181,000 in cash.
2. Borrowed $54,000 by issuing bonds.
3. Purchased delivery trucks for $60,000 cash.
4. Received $17,000 from customers for services performed.
5. Purchased supplies for $5,800 on account.
6. Paid rent of $4,800.
7. Performed services on account for $11,000.
8. Paid salaries of $29,300.
9. Paid a dividend of $10,700 to shareholders.
Required:
Using the following tabular analysis, show the effect of each transaction on the accounting equation.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 14:20

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?

Answers: 1

Answer

Business, 22.06.2019 20:50

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?

Answers: 3

Answer

Business, 23.06.2019 00:00

What is a uniform law adopted by all states that facilitates business transactions?

Answers: 1

Answer

Business, 23.06.2019 01:50

The capital balances, prior to the liquidation of the benjamin, gaynor, megan partnership, were as follows: benjamin, capital $100,000gaynor, capital $120,000megan, capital $175,000benjamin, gaynor, and megan share profits and losses in the ratio of 25%, 40%, 35%. as a result of a loan, the partnership owes gaynor $80,000. using the information above, which partner has the highest loss absorption power (lap) prior to liquidation? a. gaynorb. meganc. benjamind. both gaynor and megan have the same lap

Answers: 2

Answer

You know the right answer?

During 2017, its first year of operations as a delivery service, Concord Corporation entered into th...

Questions