Allarco Inc began operations on June 1, 2014 The transactions for the first month follow a...
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Allarco Inc began operations on June 1, 2014 The transactions for the first month follow a Allarco Inc issued shares to shareholders for $100,000 b. $100 of commissions were earned and collected today by Allarco Inc. Performed consulting services today and collected $900. d. Allarco Inc collected $1,200 for commissions earned today. e Allarco inc paid a $750 bill received today for an advertising campaign that ran last week f. Allarco Inc collected $6,000 for commissions earned today Allarco Inc received a bill today for this month's utilities: $350. It will be paid within 30 days. A bill was received today for last week's $1,000 advertising campaign. It must be paid within 15 days $700 of commissions were earned and collected today by Allarco Inc Allarco Inc. paid dividends of $1,900 to the shareholders Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Use additions and subtractions to show the transactions effects on the elements of the equation Show new totais after each transaction. Also indicate next to each change in the equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends, identify revenues and expenses by name In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended June 30 (a) (b) Bal. (c) Bal. (d) Bal. (e) Bal. (f) Bal. (g) Bal. (h) Bal. (1) Bal. (1) Bal. 11 b) Complete the following income statement: (select one) Income Statement (select one) x x x x x c) Complete the following statement of changes in equity: (select one) Statement of Changes in Equity (select one) X++ X4+ d) Complete the following Balance Sheet: X44 Share Retained Total Capital Earnings Equity (select one) Balance Sheel (select one) HA F X44 Allarco Inc began operations on June 1, 2014 The transactions for the first month follow a Allarco Inc issued shares to shareholders for $100,000 b. $100 of commissions were earned and collected today by Allarco Inc. Performed consulting services today and collected $900. d. Allarco Inc collected $1,200 for commissions earned today. e Allarco inc paid a $750 bill received today for an advertising campaign that ran last week f. Allarco Inc collected $6,000 for commissions earned today Allarco Inc received a bill today for this month's utilities: $350. It will be paid within 30 days. A bill was received today for last week's $1,000 advertising campaign. It must be paid within 15 days $700 of commissions were earned and collected today by Allarco Inc Allarco Inc. paid dividends of $1,900 to the shareholders Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Use additions and subtractions to show the transactions effects on the elements of the equation Show new totais after each transaction. Also indicate next to each change in the equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends, identify revenues and expenses by name In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended June 30 (a) (b) Bal. (c) Bal. (d) Bal. (e) Bal. (f) Bal. (g) Bal. (h) Bal. (1) Bal. (1) Bal. 11 b) Complete the following income statement: (select one) Income Statement (select one) x x x x x c) Complete the following statement of changes in equity: (select one) Statement of Changes in Equity (select one) X++ X4+ d) Complete the following Balance Sheet: X44 Share Retained Total Capital Earnings Equity (select one) Balance Sheel (select one) HA F X44
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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