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a. The company completed consulting work for a client and immediately collected $6.500 cash
b. The company completed commission work for a client and sent a bill for $5.000 to be received within 30 days
c. The company paid an assistant $1.900 cash as wages for the period
d. The company collected $2.500 cash as a partial payment for the amount owed by the client in transaction
e. The company paid $900 cash for this period's cleaning services
oped
Required:
Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a
minus sign.)
-
Transactions Number
Equity
Liabilities
Accounts
Payable
Common
Stock
Dividends
Revenue
Expenses
a
Assets
Accounts
Cash
Receivable
S 6 500 $
$ 5.000
5.600
5.000
Balance after aandb
-
Balance after
6.500
5.000
-
Balance after o
6.500
5 000
Balancoforo
6500
5.000

Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)