Roth Inc. experienced the following transactions for Year 1, its first year of operations: Issued common stock for $80,000 cash. Purchased $240,000 of merchandise on account. Sold merchandise that cost $154,000 for $306,000 on account. Collected $252,000 cash from accounts receivable. Paid $225,000 on accounts payable. Paid $54,000 of salaries expense for the year. Paid other operating expenses of $43,000. Roth adjusted the accounts using the following information from an accounts receivable aging schedule:. Number of Days Past Due Amount Percent Likely to Be Uncollectible Allowance Balance
Current $ 32,400 0.01
0−30 13,500 0.05
31−60 2,700 0.10
61−90 2,700 0.20
Over 90 days 2,700 0.50
a. Record the above transactions in general journal form and post to T-accounts.
b. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for Roth Inc. for Year 1.

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

Your own record of all your transactions. a. check register b. account statement