Prepare transaction analysis for below events 1-12 for Printing Plus Corporation. Analyze in terms of its...

  

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Prepare transaction analysis for below events 1-12 for Printing Plus Corporation. Analyze in terms of its impact on assets, liabilities, and stockholders' equity. Insert INCREASE OR DECREASE in spaces below for transactions 1-12. 1. On January 3, cash of $20,000 is invested in the business by investors, in exchange for $20,000 of Printing Plus Corporation common stock. Cash (an asset) increased and Common Stock (a component of stockholders' equity) increased by $20,000. 2. On January 5, Printing Plus Corporation purchased equipment on account for $3,500, payment due within the month. Equipment (an asset) increase and Accounts Payable (a liability) increase I 3. On January 9, Printing Plus Corporation received a $4,000 cash advance from a customer for services that are expected to be completed in the future. Both Cash and Unearned Service Revenue (a liability) increases by $4,000. 4. January 10, provides $5,500 in services to a customer who asks to be billed for the services. Accounts Receivable (an asset) and Service Revenue (stockholders equity) 5. January 12, On October 3, Printing Plus Corporation pays its office utilities for the month o October in cash, $300. Both Cash and Utilities Expense (stockholders equity) 6. January 14, On October 20, Printing Plus Corporation paid a $100 dividend. Both Cash and Stockholders' Equity by $100 7. On January 17, Printing Plus Corporation received $2,800 cash from Copa Company for services performed. Printing Plus Corporation received an asset (cash) in exchange for services (revenue). Cash is $2,800 and Service Revenue (stockholders equity) is $2,800 8. On January 18, paid in full with cash the equipment purchased on January 5. Cash and Liabilities will 9. January 20, Employees have worked 2 weeks, earning $3.600 in salaries, which were paid. Both Cash and stockholders' equity (Salaries Expense). 10. January 23, receives cash payment in full from the customer on the January 10 transaction 11. January 27, provides $1,200 in services to a customer who asks to be billed for the services 12. January 30, purchases supplies on account for $500, payment due within three months. Both Supplies and Accounts Payable (a lability). by $500. Prepare transaction analysis for below events 1-12 for Printing Plus Corporation. Analyze in terms of its impact on assets, liabilities, and stockholders' equity. Insert INCREASE OR DECREASE in spaces below for transactions 1-12. 1. On January 3, cash of $20,000 is invested in the business by investors, in exchange for $20,000 of Printing Plus Corporation common stock. Cash (an asset) increased and Common Stock (a component of stockholders' equity) increased by $20,000. 2. On January 5, Printing Plus Corporation purchased equipment on account for $3,500, payment due within the month. Equipment (an asset) increase and Accounts Payable (a liability) increase I 3. On January 9, Printing Plus Corporation received a $4,000 cash advance from a customer for services that are expected to be completed in the future. Both Cash and Unearned Service Revenue (a liability) increases by $4,000. 4. January 10, provides $5,500 in services to a customer who asks to be billed for the services. Accounts Receivable (an asset) and Service Revenue (stockholders equity) 5. January 12, On October 3, Printing Plus Corporation pays its office utilities for the month o October in cash, $300. Both Cash and Utilities Expense (stockholders equity) 6. January 14, On October 20, Printing Plus Corporation paid a $100 dividend. Both Cash and Stockholders' Equity by $100 7. On January 17, Printing Plus Corporation received $2,800 cash from Copa Company for services performed. Printing Plus Corporation received an asset (cash) in exchange for services (revenue). Cash is $2,800 and Service Revenue (stockholders equity) is $2,800 8. On January 18, paid in full with cash the equipment purchased on January 5. Cash and Liabilities will 9. January 20, Employees have worked 2 weeks, earning $3.600 in salaries, which were paid. Both Cash and stockholders' equity (Salaries Expense). 10. January 23, receives cash payment in full from the customer on the January 10 transaction 11. January 27, provides $1,200 in services to a customer who asks to be billed for the services 12. January 30, purchases supplies on account for $500, payment due within three months. Both Supplies and Accounts Payable (a lability). by $500.

Answer rating: 100% (QA)

Here is the transaction analysis for events 112 of Printing Plus Corporation On January 3 cash of 20000 is invested in the business by investors in ex... View the full answer