Zen began a new consulting firm on January 5. The accounting equation showed the following balances after
Question:
Transcribed Image Text:
- Liabilities + Assets Accounts Office Office ReceivSup- Fur Accounts Common Equity Trans- action Cash +able +plies + ture = Payable + Stock + Revenues $20,000+$ 0 +$ 0+$ 0=$ 0 + $20,000 + $ 0 18,000 3,000+ 10,000 + 0 +3,000 + 8,000=1,000 + 20,000 + 10,000 6,000 3,000 8,000,000 20,000 6,000 11,0006,000 3,0008,0001,00020,000 7,000 b. 0=1,000 + 20,000 + C. e.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
a Started the business with the owner investing 20000 cash in the c...View the full answer
Answered By
Cristine kanyaa
I possess exceptional research and essay writing skills. I have successfully completed over 5000 projects and the responses are positively overwhelming . I have experience in handling Coursework, Session Long Papers, Manuscripts, Term papers, & Presentations among others. I have access to both physical and online library. this makes me a suitable candidate to tutor clients as I have adequate materials to carry out intensive research.
4.90+
1538+ Reviews
3254+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Zen began a new consulting firm on January 5. Following is a financial summary, including balances, for each of the company's first five transactions (using the accounting equation form). Identify...
-
Paula Caine began a new consulting firm on January 3. The accounting equation showed the following transactions. Analyze the equation and describe each of the transactions with their amounts....
-
On October 1, Diondre Shabazz organized a new consulting firm called Tech Talk. On October 31, the companys records show the following accounts and amounts. Use this information to prepare an October...
-
When completed submit your assignment to the appropriate area. Company A, an American company, owns Company B, a Canadian subsidiary. Company A borrowed 1,000,000 Canadian dollars as a hedge on its...
-
Cambridge Manufacturing is evaluating the introduction of a new product that would have a unit selling price of $100. The total annual fixed costs are estimated to be $200,000, and the unit variable...
-
Why does the insurable interest in property have to be present at the time of loss?
-
A rotor, having three eccentric masses in different planes, is shown in Fig. 9.43. The axial, radial, and angular locations of mass \(m_{i}\) are given by \(l_{i}, r_{i}\), and \(\theta_{i}\),...
-
The Americo Oil Company is considering making a bid for a shale oil development contract to be awarded by the federal government. The company has decided to bid $112 million. The company estimates...
-
Rodney's award-winning brownie recipe produces 36 cookies and requires the following ingridients. 312 cups of butter 6 ounces of chocolate 12 cup of sugar 1 cup of flour 3 teaspoons of vanilla 5 eggs...
-
Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February: Required 1. Journalize the transactions. Beginning balances of...
-
Answer the following questions. a. Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for Office Supplies at year-end? b. At the...
-
Leora Diamond began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Diamond (the owner) completed these transactions: a. Owner...
-
Anthony owned a 2018 Luxuro automobile that had a fair market value of $78,000. He uses the car 90% for business. His son James, who is 19, borrows the car without his fathers knowledge and totals it...
-
What are the advantages and disadvantages of using contingent terms?
-
How do investors develop proprietary deal flow?
-
How can entrepreneurs best prepare for their fundraising pitch?
-
Why are convertible notes said to be "unpriced?"
-
What are the most important criteria for assessing the fit between an entrepreneur and an investor?
-
If you were persuaded to change your mind on what basis was this decision made?
-
What is a lobbyist in US? How did this term emerge?
-
With reference to Sunbeams financial statements, in the period that Sunbeam overstated its restructuring expense and restructuring reserves, what was the effect? (a) Increased net income. (b)...
-
Visit or call a local auto dealership and inquire about leasing a car. Ask about the down payment and the required monthly payments. You will likely find the salesperson does not discuss the cost to...
-
What is the benefit of continuous budgeting?
-
Identify three usual time horizons for short-term planning and budgets.
-
What are the advantages of deploying multicast routing protocols like PIM and IGMP in multimedia streaming applications, and how do they optimize bandwidth utilization and reduce network congestion ?
-
2. (10 points) Describe in a few words what the algorithm Foo does and what the algorithm Bar does. Analyze the worst-case running time of each algorithm and express it using "Big-Oh" notation....
-
Let x(t) = u(t+2)-u(t-1) where u(t) = < [1, t>0 0,t <0 (unit step signal) and h(t)=e'u(-t+1). a) Sketch x(t) and h(t). Label all your axes. b) Calculate the convolution y(t) = x(t)* h(t). Simplify...
Study smarter with the SolutionInn App