Oct 1: Owners invest $30,000 cash. 5: Buy a machine for $5,000 cash. 10: Buy supplies on

Fantastic news! We've Found the answer you've been seeking!

Question:

Oct 1: Owners invest $30,000 cash.

5: Buy a machine for $5,000 cash.

10: Buy supplies on account, $980

15: Perform services for $9,300 cash.

20: Pay telephone, $325.

22: Pay owners $1400(drawing)

28: Pay 350 on account for the transaction of Oct 10^th.

Machine depreciated by $850
Supplies remaining = 500
Receive Con Ed bill, $700 (not paying now).
Owe the workers a salary of $1,500
1. Prepare three financial statements
  1. -Income statement
  2. -Capital statement
  3. -Balance sheet

Related Book For answer-question

Financial Accounting

ISBN: 978-1259307959

4th edition

Authors: David Spiceland, Wayne Thomas, Don Herrmann

See More Books

Posted Date: Jun 20, 2022 12:27 AM

See More Questions

Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
An airplane wing is subjected to a lift force (F) created by the airflow over its surface. This force is a function of the density (p) and viscosity of the air (u), the chord length (L) of the wing,...
Please research a small business Chagrin Falls Popcorn Shop ( https://www.chagrinfallspopcorn.com/ ) social media, and mobile marketing they have been using, etc). In the final exam, you will put...
What are the principal technologies and standards for wireless networking, communications, and Internet access? 1. Define Bluetooth, Wi-Fi, WiMax, and 3G and 4G networks. 2. Describe the capabilities...
At the end of Oates Department Store's fiscal year on November 30, 2025, these accounts appeared in its adjusted trial balance. Additional facts: 1. Inventory on November 30, 2025, is $36,200. 2....
1. What was the first thing that PM Solutions did when it was hired by VELCO? 2. Why was the VELCO project compared to a political campaign? 3. Why do you think VELCO was so successful in cutting the...
The following payroll liability accounts are included in the ledger of Armitage Company on January 1, 2010. FICA Taxes Payable ......... $760.00 Federal Income Taxes Payable .... 1,204.60 State...
Horticultural Products Inc. reported $616,709 profit in 2023 and declared preferred dividends of $48,700. The following changes in common shares outstanding occurred during the year. Jan. 1 48,000...
Toyota Motor Corporation (TM) uses target costing. Assume that Toyota marketing personnel estimate that the competitive, average selling price for the Rav4 in the upcoming model year will need to be...
CHAPTER 4: CONSOLIDATION - INTERCOMPANY PROFIT PROBLEM 4-5 On January 1, 2022, Pet Company purchased 80% of the shares of Sam Company for P1,000,000. The shareholders' equity of Sam Company on that...
Explain how Audience Researches reshape the Communications Theories and support it with a Legacy Media (TV, Radio) example.
Incident Report Write an Incident Report in a "Memo" style based on ONE of the situations found in the "Workplace Accident Prevent It!" public service advertisements. This is not about "filling out"...
1.Based on watching the conflict between Brooke and Gary,what inferences might be drawn regarding their relational system and interactions? 2. Does the conflict between Brooke and Gary seem toxic?...
1. What are the reasons for poor team performance and how does each tie into team-building activities? Give an example from a current event where poor team performance was evident. 2. How do...
Provide statistical information and evidence how researchers use statistical concepts. Discuss.
A chain calibrated to read 100.01 feet at 68F is to be used to establish a point 1280.00 feet from an existing monument. If the chain is to be used at -10F, what distance should be measured? K =...
Uniform electric field in Figure a uniform electric field is directed out of the page within a circular region of radius R = 3.00 cm. The magnitude of the electric field is given by E = (4.50 x 10-3...
Financial information for Buckle is presented in Appendix B at the end of the book. Required: 1. What does the Report of Independent Registered Public Accounting Firm indicate about Buckle's internal...
Financial information for American Eagle is presented in Appendix A at the end of the book. Required: 1. Calculate the debt to equity ratio for the past two years. Did the ratio improve or weaken in...
Financial information for American Eagle is presented in Appendix A at the end of the book, and financial information for Buckle is presented in Appendix B at the end of the book. Required: Determine...
Acrylic latex paint can be described as a Bingham plastic with a yield stress of $200 \mathrm{dyn} / \mathrm{cm}^{2}$, a limiting viscosity of $50 \mathrm{cP}$, and a density of $0.95 \mathrm{~g} /...
A slider bearing can be described as one plate moving with a velocity $V$ parallel to a stationary plate, with a viscous lubricant in between the plates. The force applied to the moving plate is $F$,...
Consider a fluid flowing in a conical section, as illustrated in Figure P5.75. The mass flow rate is the same going in (through point 1) as it is coming out (point 2), but the velocity changes...

Oct 1: Owners invest $30,000 cash. 5: Buy a machine for $5,000 cash. 10: Buy supplies on

Question:

Expert Answer:

Prepare a Income Income stakma Revenue EXPRSOS Telephone Deprecati Salaries Con E... View the full answer

Financial Accounting

Students also viewed these accounting questions