Business, 05.02.2021 21:30 Jackson4568

Record the following transactions following the format we used in the lecture. Each transaction has its own row. Do not total up the account balances after each transaction. Put a + or - to indicate if the amount is an increase or decrease, respectively. Use commas for thousands and millions. If an account is not used, put a 0 in the cell. You'll need to tab over to get to cells at far right. I did the first transaction for you.
a. The owner invested $10,000 cash in the business.
b. The company buys equipment on account for $15,000.
c. The company provides services to a customer on account. The sales price is $5,000.
d. The company collects $3,000 of the sale from c. above.
e. The company purchases merchandise for cash of $3,000.
f. The company pays $7,000 of the amount owed from b. above.
Assets = Lic Cash A/R Equipment A/P Inventory o a. +10,000 0 0 o b. d. The company collects $3,000 of the sale from c. above. e. The company purchases merchandise for cash of $3,000. f. The company pays $7,000 of the amount owed from b. above. Assets = Lii Cash A/R Inventory Equipment A/P a. +10,000 0 0 0 o b. C. d. e. f. above. f $3,000. from b. above. = Liab. + Reven. cory Equipment A/P + Equity Owner's Capital +10,000 Revenue 0 0

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 15:00

In its first year of operations, crane company recognized $31,700 in service revenue, $7,700 of which was on account and still outstanding at year-end. the remaining $24,000 was received in cash from customers. the company incurred operating expenses of $16,600. of these expenses, $12,690 were paid in cash; $3,910 was still owed on account at year-end. in addition, crane prepaid $3,260 for insurance coverage that would not be used until the second year of operations.

Answers: 3

Answer

Business, 22.06.2019 06:30

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

Answers: 1

Answer

Business, 22.06.2019 16:50

According to ceo heidi ganahl, camp bow wow requires a strong and consistent corporate culture to keep all local franchise owners "on the same page" and to follow a common template for the business and brand. this culture could become detrimental over time because: (a) strong consistent cultures are inflexible and incapable of adapting to environmental change (b) strong consistent cultures are too flexible and capable of adapting to environmental change (c) strong consistent cultures don’t perform well in any environment (d) the passing of time provides stability and predictability for businesses

Answers: 2

Answer

Business, 23.06.2019 00:40

Oliver queen buys 100 shares of stock in green arrow archery corporation, a publicly traded company with which he is not affiliated as a director, officer, or employee. he then sells his 100 shares to john diggle. the sec sues oliver because he didn't register the sale of stock to john. who wins? oliver, because the sale falls into the nonissuer exemption oliver, because the sale falls into the private placement exemption the sec, because the transaction is not exempt from registration the sec, because even exempt transactions must be registered with the sec

Answers: 3

Answer

You know the right answer?

Record the following transactions following the format we used in the lecture. Each transaction has...

Questions