Business, 18.02.2020 23:18, cvrechek

In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the accounts, amounts, and direction of the effects on the accounting equation under the accrual basis. A sample is provided. (Enter any decreases to account balances with a minus sign.)a. (Sample) Received $14,200 cash for consulting services rendered in January. b. Issued common stock to investors for $12,500 cash. c. Purchased $16,900 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $8,600 cash for consulting services to be performed in February. e. Bought $1,950 of supplies on account. f. Received utility bill for January for $1,440, due February 15.g. Consulted for customers in January for fees totaling $19,200, due in February. h. Received $13,800 cash for consulting services rendered in December. i. Paid $975 toward supplies purchased in (e).

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 18:20, nicollexo21

Alyeska services company, a division of a major oil company, provides various services to the operators of the north slope oil field in alaska. data concerning the most recent year appear below: sales $18,000,000 net operating income $6,300,000 average operating assets $35,200,000 1. compute the margin for alyeska services company. (round your answer to 2 decimal places.) 2. compute the turnover for alyeska services company. (round your answer to 2 decimal places.) 3. compute the return on investment (roi) for alyeska services company. (round your intermediate calculations and final answer to 2 decimal places.)

Answers: 1

continue

Business, 22.06.2019 21:10, dooboose15

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Answers: 3

continue

Business, 22.06.2019 23:50, jtroutt74

Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is:

Answers: 1

continue

Business, 23.06.2019 02:40, cortneyka10

Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?

Answers: 2

continue

Do you know the correct answer?

In January, Tongo, Inc., a branding consultant, had the following transactions. Indicate the account...