Alterri Mechanical, Corp., was recently formed as a corporation. The balance of each item in the companys
Question:
Requirement
1. A single transaction took place on each day. Briefly describe the transaction that most likely occurred on each day, beginning with November 4. Indicate which accounts were increased or decreased and by what amounts. Assume that no revenue or expense transactions occurred during themonth.
Transcribed Image Text:
Accounts Accounts Common Retained receivable Supplies Cash Land payable stock earnings Nov 1 $3,000 $12,000 $ 1,100 1,100 $4,300 4,300 4,300 4,500 $13,000 $6,100 $7,300 7,300 7,300 7,300 7,300 6,000 3,000 12,000 16,000 16,000 16,000 6,100 1,100 15,000 6,100 6,100 13 3,000 1,300 15,000 1,300 16 1,300 15,000 2,800 16,000 6,100 6,400 6,400 6,100 2,200 16,000 19 1,300 15,000 2,800 22 10,200 9,700 15,000 1,300 2,800 24,000 6,100 25 6,400 1,300 15,000 2,300 24,000 6,100 27 9,100 6,400 1,900 15,000 2,300 24,000 6,100 3,600 2,300 30 6,400 1,900 15,000 24,000 600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (24 reviews)
Req 1 Alterri Mechanical Corp Date Transaction Type Account Increase Dec...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Related Video
Accounts payable are money owed by a business to its suppliers shown as a liability on a company\'s balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents
Students also viewed these Accounting questions
-
Zelinsky Electronics, Corp., was recently formed as a corporation. The balance of each item in the companys accounting equation is shown for October 1 and for each of the following business days....
-
Zelinsky Electronics was recently formed as a proprietorship. The balance of each item in the companys accounting equation is shown for October 1 and for each of the following business days....
-
The balances of each item in Melbourne Companys accounting equation are given next for November 1 and for each of the next 7 business days. State briefly what you think took place on each of the 7...
-
Draw the array's dimensions and contents of the following initialized two-dimensional arrays: 1) 2) int[][] arr1= new int [3] [4]; arr1 [0] [1]-5; arrl [0] [2] = 10: arrl [1] [2]-7; arri [0] [3] = 9;...
-
Anheuser-Busch InBev Companies, Inc., reported the following operating information for a recent year (in millions): Sales.............................................................$47,063 Cost of...
-
In Problems 5768, solve each equation in the real number system. 2x + 3x + 2x + 3 = 0
-
Explain the three types of visibility for package elements: public, private, and protected.
-
The 2010 oil spill in the Gulf of Mexico caused the oil firm BP and the U. S. government to greatly increase purchases of boat services, various oil-absorbing materials, and other goods and services...
-
You are driving your car along a country road at a speed of 26.0 m/s. As you come over the crest of a hill, you notice a farm tractor 25 m ahead of you on the road, moving in the same direction as...
-
The Royal Canadian Lodge in Banff, Alberta, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room...
-
Aimee Griffin practiced law with a partnership for 10 years. Recently she opened her own law office, which she operates as a professional corporation. The name of the new entity is Aimee Griffin,...
-
Missy Crone owns and operates a public relations firm called Top 40, Inc. The following amounts summarize her business on August 31, 2012: During September 2012, the business completed the following...
-
Name five different basic devices that use at least one of the electromagnetic interactions.
-
How does process technology enable better forecasting and demand planning in the supply chain?
-
How does process technology facilitate demand forecasting and planning in the supply chain?
-
Which of the tool is used to find when 80 percent of problem may be attributed by 20 percent of causes
-
Assume you are conducting a study to determine the importance of brand names and features of mobile phone handsets. What types of questions would you useopen-ended, closed-ended, scaled?and why?...
-
What is meant by satisficing and bounded rationality? Why do managers not strive to find the economically best solution for many organizational decisions? What techniques could you use to improve...
-
A bailee must exercise reasonable care to preserve the bailed property. (True/False)
-
Determine the annual percentage yield for a loan that charges a monthly interest rate of 1.5% and compounds the interest monthly.
-
The solubility of rock salt is 40 g/100 g water at 30 C. If a solution contains 10 g of rock salt in 25 g of water at 30 C, is the solution saturated, unsaturated, or supersaturated?
-
Alma Ortiz is the advertising manager for CostLess Shoe Store. She is currently working on a major promotional campaign. Her ideas include the installation of a new lighting system and increased...
-
Isaac Corporation has collected the following information after its first year of sales. Sales were $1,800,000 on 100,000 units; selling expenses $400,000 (30% variable and 70% fixed); direct...
-
Mega Electronix carries no inventories. Its product is manufactured only when a customers order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31,...
-
You own a Triplex and are renting each unit for $1029/month Expenses will be 45% of gross rent Vacancy rate is 5% You will also have additional income by charging $25/month/unit for each unit's use...
-
Calculate this by using this formula: Break-Even Point = Fixed Costs / (Sale Price per Unit - Variable Costs per Unit): Existing Process Metrics: Workforce: 5 employees Output Rate: 60 fittings per...
-
What is your estimate of the total charge, in dollars, for concrete transportation for this project? Your answer should be rounded to the nearest 1000. Do not enter a $ sign. Hint: There are 1000...
Study smarter with the SolutionInn App