FREE Trial

Use the T account for Cash below to record the portion of each of the following transactions, if any that

Question:

Use the T account for Cash below to record the portion of each of the following transactions, if any that affect cash. How do these transactions affect the company’s liquidity?


Use the T account for Cash below to record the


Jan. 2 Provided services for cash, $2,400.
4 Paid expenses in cash, $1,400.
8 Provided services on credit, $2,200.
9 Incurred expenses on credit,$1,600.

Transcribed Image Text:

Cash

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 66% (9 reviews)

The transactions of Jan 2 and 4 have an …View the full answer


answer-question
Answered By
tutor-profile-image
Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
4.90+ 119+ Reviews 214+ Question Solved
Related Book For  answer-question
Principles of Accounting

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: March 26, 2014 07:57:06
See More Questions

Students also viewed these Accounting questions

Q:
Use the T accounts for Cash below to record the portion of each of the following transactions, if any, that affect cash. How do these transactions affect the company's liquidity? Jan. 2 Provided...
A:
The transactions of Jan 2 and 4 have an......
Q:
Indicate the effect of each of the following transactions on total assets, total liabilities, and total owners' equity. Use + for increase, for decrease, and (NE) for no effect. The first...
A:
Assets Liabilities Owners Equity a Borrowed cash on a bank loan b Paid an......
Q:
Show the effect of each of the following transactions on the basic accounting equation, by preparing a table like the one in Exhibit 2-3. The fiscal year end of the company (which has been operating...
A:
Assets Liabilities S H Equity Cash A R Inventory Equipment Prepaid Ins......
Q:
Professor Quark opens his own company, Electronic Tutorial Services, and completes the following transactions in June: 6/1 Quark invests 24,000 into the business. 6/3 Purchased 2,100 of equipment on...
A:
Step 1 Journal entry is an act of keeping economic trans......
Q:
Clinical data concerning the effectiveness of two drugs in treating a particular disease were collected from 10 hospitals. The numbers of patients treated with the drugs varied from one hospital to...
A:
a Since we are interested in a difference in recovery rates let p be the probability that the recove......
Q:
List and explain the 3 main causes of culture shock in our own words. Provide an example of when a person experienced culture shock.
A:
Culture shock is a temporary experience of disorientation and anxiety that can occur when someone moves to a new culture It is caused by the loss of f......
Q:
Suppose you have 0.5 mole of gold, Au, atoms. (a) How many gold atoms do you have? (b) What is the mass in grams of this much gold?
A:
a Because 1 mole of gold atoms means......
Q:
After extensive research and development, Good-week Tires Inc. has recently developed a new tire, the Super Tread, and must decide whether to make the investment necessary to produce and market it....
A:
The cash flow to start the project is the 160 million equipment cost and the 9 million required for net working capital yielding a total cash outflow today of 169 million The research and development......
Q:
Chapter 12 - Effective Communication: Partnership in Italy Melissa Chang was asked to travel to Venice, Italy and meet with her company's partnering company. Preparation for the trip was stressful....
A:
1 Discuss how Melissa s communication style impacted the performance of the Italian partners Melissa s communication style played a crucial role in turning around the situation with the Italian partne......
Q:
The tensile strength of nonferrous pipes is of importance. Samples of size 5 are selected from the process output, and their tensile strength values are found. After 30 such samples, the process mean...
A:
a The center line on a chart for the average tensile strength is 3000 kg The stand......
Q:
For each of the following ethical situations involving business transactions, indicate what accounting concept has been violated or whether there is no violation: 1. A sales transaction is recorded...
A:
1 A sales transaction is recorded on the first day of th......
Q:
Which of the following events would be recognized and recorded in Abril Companys accounting records on the date indicated? Jan. 15 Abril offers to purchase a tract of land for $280,000. There is a...
A:
Jan 15 Not recorded An offer is not a completed transaction Feb 2 Not record......
Q:
A sample consists of the following n = 6 scores: 2, 7, 4, 6, 4, and 7. a. Compute the mean and standard deviation for the sample. b. Find the z-score for each score in the sample. c. Transform the...
A:
a M 5 and s 2 b c Orig......
Q:
What are the characteristics of a good tax system (equity and ability to pay, adequacy of yield, costs of collection, tax shifting: impact and incidence, neutrality, and predictability) and why are...
A:
Characteristics of a Good Tax System 1 Equity and Ability to Pay Definition Taxes should be distributed fairly based on individuals ability to pay Progressive taxation where higher income individuals......
Q:
Assume that the total inventory on hand at the end of the year as determined by taking a physical inventory is $62,000. Of the $62,000, $8,000 has been sold FOB destination and is awaiting pickup by...
A:
The cost of inventory reported on the balance sheet is determined by excluding the good......
Q:
Deficiencies in internal control identified by the auditor that are lesser than significant deficiencies: Must be communicated to the board of directors, the audit committee, and management. Must be...
A:
The detailed answer for the above question is provided below The correct option is Must be repo......
Q:
IoT is widely spread and available but the IoT devices are known to suffer from inherent vulnerability limitations. One of the most well-known attacks is SCADA attack'. In the following two PBLs, you...
A:
1 Critical Analysis of SCADA Attack a Attack Mechanism Vulnerabilities in the systems that regulate and keep an eye on vital infrastructure are the source of SCADA Supervisory Control and Data Acquisi......
Q:
Mr. X filed his ITR on April 15, 2019. He received an assessment from BIR on June 30, 2021, which he duly protested within the period allowed. If the protest above was denied by the BIR Commissioner...
A:
The detailed answer for the above question is provided below c Appeal to the Court of......
Q:
Evaluate f (4). f (x) = x 0
A:
f......
Q:
The following table shows the rates of total return in successive years from 2004 to 2008 for the Sprott Canadian Equity Fund and for the benchmark Toronto Stock Exchange S&P/TSX Composite Index. By...
A:
The value at the end of 2008 of an initial investme......
Q:
Develop brief answer to each of the following questions: 1. Why is the accounting cycle called a cycle? 2. Could closing entries be made without using the Income Summary account? 3. Why does the...
A:
1 It is so called because its steps are repeated each acco......
Q:
Develop brief answer to each of the following questions: 1. Why are reversing entries helpful? 2. Under what circumstances would the Income Statement and Balance Sheet columns on a work sheet balance...
A:
1 Reversing entries simplify the bookkeeping process for transactions involving ac......
Q:
Selected September T accounts for Hubbord Company are presented below. 1. In which of the accounts would a reversing entry be helpful? Why? 2. Prepare the appropriate reversing entry. 3. Prepare the...
A:
1 Appropriateness of reversing entry explained A reversing entry for the adjustment to......
Marcy Wrist And Forearm Developer/Strengthener Home - ISBN: B00076SPZY - Free Book