Halley Burton began a Web Consulting practice and complete these transactions during September of the current year:
Sept 1 Invested $100,000 of his personal savings into a checking account opened in the name of the business
2 Rented office space and paid $1,200 cash for the month of September
3 Purchased office equipment for $30,000, paying $8,000 cash and agreeing to pay the balance in one year
4 Purchased office supplies for $750 cash
8 Completed work for a client and immediately collected $2,700 cash for the services
15 Completed $3,600 services for a client on credit
20 Received $3,600 from a client for the work completed on September 15
30 Paid the office secretary's monthly salary, $3,000 cash
30 Burton withdrew $2,000 for personal use.
Show the effects of the above transactions on the accounting equation of Halley Burton, Consultant. Use the following format for your answers, the first time is shown as an example.
Increase = I, Decrease = D, No effect - N
Date Assets Liabilities Equity
September 1 I N I
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 11:10, allieallie
Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.
Answers: 1
Business, 22.06.2019 14:30, deku6
United continental holdings, inc., (ual), operates passenger service throughout the world. the following data (in millions) were adapted from a recent financial statement of united. sales (revenue) $38,901 average property, plant, and equipment 17,219 average intangible assets 8,883 1. compute the asset turnover. round your answer to two decimal places.
Answers: 2
Business, 22.06.2019 14:30, benjaminmccutch
Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?
Answers: 1
Business, 22.06.2019 20:40, chelsea73
Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.
Answers: 3
Do you know the correct answer?
Halley Burton began a Web Consulting practice and complete these transactions during September of th...
Questions in other subjects:
History, 26.07.2019 00:00
