Following are the transactions of JonesSpa Corporation, for the month of January. The effect of these...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Following are the transactions of JonesSpa Corporation, for the month of January. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $33,200 from a local bank. b. Lent $13,200 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $6 per share; received cash. d. Purchased $31,000 of equipment, paying $13,000 cash and signing a note for the rest due in one year. e. Declared $5,200 in cash dividends to stockholders, to be paid in February. Cash Notes Receivable Beg. bal. 16,900 Beg. bal. 49,000 Notes Payable Equipment 16,700 Beg. bal. Beg. bal. 4,600 Dividends Payable Common Stock Beg. bal. Beg. bal. 17,000 Additional Paid-in Capital Retained Earnings Beg. bal. Beg. bal. 19,000 42,000 Prepare a balance sheet for JonesSpa Corporation, as of January 31. JONESSPA CORPORATION Balance Sheet Assets Liabilities Current assets: Current liabilities: Total current assets Total current liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities & stockholders' equity Following are the transactions of JonesSpa Corporation, for the month of January. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $33,200 from a local bank. b. Lent $13,200 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $6 per share; received cash. d. Purchased $31,000 of equipment, paying $13,000 cash and signing a note for the rest due in one year. e. Declared $5,200 in cash dividends to stockholders, to be paid in February. Cash Notes Receivable Beg. bal. 16,900 Beg. bal. 49,000 Notes Payable Equipment 16,700 Beg. bal. Beg. bal. 4,600 Dividends Payable Common Stock Beg. bal. Beg. bal. 17,000 Additional Paid-in Capital Retained Earnings Beg. bal. Beg. bal. 19,000 42,000 Prepare a balance sheet for JonesSpa Corporation, as of January 31. JONESSPA CORPORATION Balance Sheet Assets Liabilities Current assets: Current liabilities: Total current assets Total current liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities & stockholders' equity
Expert Answer:
Answer rating: 100% (QA)
JONESSPA CORPORATION Balance Sheet Assets Amount Liabilities Amount Current Assets Current Liabiliti... View the full answer
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date:
Students also viewed these accounting questions
-
The centrifugal force is not included in the free-body diagrams of Figs. 5.34b and 5.35. Explain why not. n cos B n sin B Grud w-mg
-
Following are the transactions of a new company called Pose-for-Pics Aug 1 Madison Harris. the owner. invested $10,250 cash and $44,075 of photography equipment in the company in exchange for common...
-
The following instruction is not included in the MIPS instruction set: rpt $t2, loop # if(R[rs]>0) R[rs]=R[rs]1, PC=PC+4+BranchAddr 1. If this instruction were to be implemented in the MIPS...
-
It is desired to control the exit temperature T2 of the beat exchanger shown In Figure by adjusting the steam flow rate w3, unmeasured disturbances occur in inlet temperature T1. The dynamic behavior...
-
a. Why is it necessary for most parasites to leave their host to complete the life cycle? b. What are some ways to prevent completion of the life cycle? c. What is the benefit to parasites of having...
-
A cantilever beam of length L = 2m supports a load P = 8.0kN (see figure). The beam is made of wood with cross-sectional dimensions 120mm x 200mm. Calculate the shear stresses due to the load at...
-
For each of the following sets of numbers, calculate a \(95 \%\) confidence interval for the mean ( \(\sigma\) known); before going through the steps in calculating the confidence interval, the...
-
Kelly, Gwen, and Tuoi incorporated their accounting business and own all its outstanding stock. During the current year, the corporation's taxable income is $300,000 after deducting salaries of...
-
QS 12-4 (Static) Indirect: Computing cash flows from operations LO P2 Cain Incorporated reports net income of $15,000. Its comparative balance sheet shows the following changes: accounts receivable...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
1. Where do in vitro studies take place? 2. Give 2 examples of biomedical research subjects. 3. What does in vitro mean? 4. What did Alexander Fleming discover? 5. Biomedical research has had a great...
-
According to surveys in the U.S. and the United Kingdom, what are the most frequently used financial measures to evaluate subsidiary performance by MNCs? A) Stock price, return on investment, profit...
-
Interview a teacher who have been teaching for 3 years, 5 years and more than 5 years. ask each of them how they go through continuing professional development. write your findings in the form of a...
-
How do you evaluate the leadership of Wolfgang Keller based on an understanding of leadership? Write a review report for Keller's boss assessing his leadership, what would you say? Write as a draft...
-
in below article, choose two passages that are 30 - 50 words long and paraphrase them and include a signal phrase and a correct APA style in text citation this is the article below. this the example...
-
How do strategic leaders leverage interdisciplinary insights and holistic approaches to orchestrate adaptive responses to disruptive forces, ensuring organizational agility and resilience?"
-
Suppose that in 1990, a coffee cost $2, and the CPI at the time is 118. Suppose that in 2022, a coffee cost $6, and the CPI at the time is 300. Compute the percentage change in the real price of a...
-
Highland Theatre is owned by Finnean Ferguson. At June 30, 2014, the ledger showed the following: Cash, $6,000; Land, $100,000; Buildings, $80,000; Equipment, $25,000; Accounts Payable, $5,000;...
-
Cyprus Corporation issued $150,000 of bonds on January 1, 2012, to raise funds to buy some special machinery. The maturity date of the bonds is January 1, 2017, with interest payable each January 1...
-
How does the accounting for changes in the value of trading and available-for-sale securities differ?
-
As a consultant for ABC Consulting Company, you have been hired by Eddies Electronics, a company that owns 25 electronics stores selling radios, televisions, compact disc players, stereos, and other...
-
Allister Company uses both debt capital and equity capital to fund new projects. The before-tax cost of debt capital is 12 percent. The cost of equity capital is 10 percent. Allister's effective tax...
-
Use an Internet search engine to identify three companies or agencies that use present worth analysis to make business decisions as evidenced in their annual reports.
-
Use the Internet to access ConocoPhillips's most recent annual report. a. What evidence do you find that ConocoPhillips continues to rely on present worth analysis in its corporate decision making?...
Study smarter with the SolutionInn App